JBB Builders Forms Joint Venture for 99.99MW Solar Plant in Malaysia
JBB Builders International Ltd. has announced the formation of a joint venture with a wholly-owned subsidiary of Samaiden Group Berhad. The new joint venture company, Legasi Suria Selatan Sdn. Bhd., will be responsible for developing, designing, constructing, owning, operating, and maintaining a large-scale solar photovoltaic plant with a capacity of approximately 99.99MWac in Segamat, Johor, Malaysia. JBB Builders $(M)$ Sdn. Bhd., a wholly-owned subsidiary of JBB Builders International Ltd., will hold a 30% stake in the joint venture, while the JV partner will hold the remaining 70%. The total capital injection by JBB Builders (M) Sdn. Bhd. is expected to be not more than RM65 million. This collaboration follows the consortium's selection as a shortlisted bidder by the Energy Commission of Malaysia for the project.
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