Petronas Gas is seeking to secure a credit facility worth $403.4 million through a term loan, Reuters reports. The Malaysian company will raise the funds to finance its 300 megawatt gas-fired power plant located in the eastern state of Sabah.
The fund-raising will cover around 80% of the $503.7 million Kimanis power plant in Sabah, while the rest will be funded through equity. It is also expected to help in the development of the Petronas driven Sabah Oil & Gas Terminal project.
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