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$107m electricity deal

$107m electricity deal

LEADER Universal Holdings announced Wednesday it had entered into a 25-year build-operate-transfer agreement with Cambodian Transmission Ltd to develop a power transmission system in Kampong Cham. The Malaysian firm will work with its Cambodian partner to develop the US$107 million project for Electricite du Cambodge (EDC), according to a filing to Bursa Malaysia. The 230-kilovolt transmission system will be developed over three stages funded by internal capital and bank borrowing, the statement added, with the whole power project expected to be completed by 2013. Leader is also building a 100-megawatt coal-fired power station in Sihanoukville through its 80 percent-owned subsidiary, Cambodian Energy Ltd. The power generated through the project will be supplied to EDC as part of a 30-year agreement.

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