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Aug. 4 2003 -- The success of its power plant in Pakistan has prompted Malaysia's Tenaga Nasional Bhd to consider expanding its overseas business, the company's chairman was quoted on Sunday as saying.
The Malay-language Utusan Malaysia daily quoted Tenaga's Chairman Awang Adek Hussin as saying the positive returns from the Liberty power plant has given it the confidence to invest in other countries, particularly in West Asia.
"There have been requests and we are exploring the probability," he said, but gave no further details.
The 235 MW Liberty power plant, Tenaga's only foreign investment, posted sales of $64 million in the nine months to end-May, up 10.5 per cent against the same period in the previous year.
Awang Adek also said the state-controlled Tenaga will try to sell electricity to neighbouring countries to reduce excess generation capacity.
"This could be the way to reduce our excess supply, but it is still at the discussion stage," he said.
Malaysia has total installed capacity of about 14 000 MW and maintains a policy of keeping 30 per cent spare electricity capacity.
However, reserve capacity now stands at 42 per cent following commissioning of new power plants. "This is too much and adding more costs," Awang Adek said.
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