Marubeni Corp. acquire stake in Cambodian power company

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Marubeni Corp. acquire stake in Cambodian power company

Marubeni Corporation has entered into an agreement with HNG Capital Sdn Bhd to acquire 20% shares in Leader Infrastructure Limited (LIL).

LIL owns all shares in Cambodian Energy Limited (CEL), which owns and operates coal-fired power stations (50MW x 2) in Sihanoukville and Cambodian Transmission Limited CTL, which owns and operates the transmission line and substation between Kampong Cham and North Phnom Penh. Both projects commenced commercial operation in 2013.

Leader Group, which HNG Capital belongs to, is the largest cable and wire producer in Malaysia and South East Asia. Leader Group is also a pioneer of foreign Independent Power Producer (IPP) in Cambodia having operated a 35 MW diesel engine power plant in Cambodia since 1997. It was engaged in the development of CEL/CTL since the 2000s.

Marubeni Corporation is headquartered in ?temachi,Chiyoda, Tokyo, Japan. Marubeni is the fifth-largest sogo shosha and has leading market shares in cereal and paper pulp trading as well as a strong electrical and industrial plant business. In 2013, the Tokyo Stock Exchange recognized Marubeni as the best Japanese company at increasing enterprise value, citing management's efforts to maximize return on equity.

Marubeni said it will continue to seek business opportunities in new power markets globally. This is the first time for a Japanese company to participate in the Cambodian power market.

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