Malaysia’s biggest hydroelectric project will now pass directly into the Sarawak government’s hands.
Sarawak Chief Minister Datuk Amar Abang Johari Abang Openg announced today his government’s acquisition of the controversial Bakun Dam from the federal government at a cost of RM2.5 billion.
“We are acquiring it at cost of RM2.5 billion from the federal Ministry of Finance Incorporated,” he told reporters here.
He said the Bakun Dam will be placed and managed by the Sarawak Energy Berhad, which will also undertake to settle all outstanding loans.
Abang Johari said the takeover of Bakun Dam is expected to be completed within two months.