PETALING JAYA: Tenaga Nasional Bhd’s (TNB) repair and maintenance arm, TNB Repair And Maintenance Sdn. Bhd. (TNB REMACO), will set up a refurbishment and maintenance facility in India, its first outside Malaysia.
In a statement, TNB said its unit was venturing into power plant operations and maintenance (O&M) in India through collaboration with TNB 30%-owned GMR Energy Ltd (GEL).
TNB completed the purchase of the 30% stake in the Indian power firm in November last year for US$300mil.
Under a three-year Memorandum of Understanding (MoU) inked with GEL yesterday, TNB REMACO and GEL will provide power plant O&M, performance improvement testing and diagnostic services.
Prior to the establishment of the facility in India, TNB REMACO will carry out refurbishment works at its facility in Malaysia.
Both parties have the option to extend the (MoU) through a mutual written agreement.
The (MoU) was signed by Managing Director Anuar Yusof on behalf of TNB REMACO. GEL was represented by Sanjay Barde, its Chief Executive Officer (CEO).
TNB President and CEO Datuk Seri Azman Mohd described the venture as a further manifestation of TNB’s drive for international expansion by leveraging on its strategic equity holding in GEL.
“With the current economic dynamism, India will be a bright spot in the global economy. We are taking a long-term view in India and aim to unleash our respective strength to allow TNB to create a strong foothold and maximise opportunities’ inherent in the Indian power industry,” he said.
“Towards this end, we are also looking to expand our expertise and business reach in the transmission and distribution space in India through GEL.
Source: The Star