Pulau Indah Power Plant Signs a MYR 2.7 Billion Syndicated Islamic Financing Facility

Pulau Indah Power Plant (PIPP) has signed on an MYR 2.7 billion Shariah-compliant Commodity Murabahah Term Financing-I facility with Bank Pembangunan Malaysia (BPMB), also known as Malaysia Development Bank, according to local media reports. This facility is co-financed with the support of Maybank Islamic and United Overseas Bank (Malaysia). The funds will go towards the construction of PIPP’s power plant in Selangor, Malaysia. 

Why it Matters?

The 1,200 mega-watt (MW) combined cycle gas turbine power plant has a total estimated project cost of MYR 3.3 billion, and is expected to generate enough electricity to supply 500,000 households. The plant, which is scheduled to be commissioned in 2024, will be a significa...