The Japan-based Mitsui & Co., Ltd, together with the Malaysian State-owned 1Malaysia Development Berhad (1MDB) will team up to construct and operate a 3.3 billion USD coal-fired power generation project located in Negri Sembilan state, Malaysia.

This is the first time the Malaysian Government has allowed a foreign investor to participate in a power generation project in the country, following international bidding for various projects first introduced in Malaysia in July 2012.

According to a press release issued by the Japanese firm, the construction of the 2,000 MW plant will begin within 2014.

Once finished in 2018, the plant will sell electricity to the national power utility, Tenaga Nasional Berhad under the Power Purchase Agreement for a 25-year term, the document said.

Mitsui will supervise the construction and operation of the project by leveraging its experts’ abundant experience in the overseas power business.-VNA