TNB Signs LoU with NATCO of YemenPrint this page
Date: 09/12/2010
Tenaga Nasional Berhad (TNB) signed a Letter of Understanding (LoU) with National Trading Company (natco) of Yemen to explore joint cooperation in various areas of the power industry in Yemen.
The possible areas eyed by the two companies are power generation and distribution; training; system planning; design, project management and development; system operation; and system maintenance.
The LoU is a stepping stone for both parties to establish a business alliance and also serves as a platform for both TNB and natco to market technical services and thus diversify their revenue.
TNB Chairman, Y. Bhg. Tan Sri Leo Moggie in his speech said, "As part of TNB's geographical expansion, we are continuously exploring other opportunities that could potentially lead to partnerships and cooperation with international counterparts in the utility services."
The collaboration with natco will allow TNB to build its track record in providing technical services to potential Middle East and OIC countries, besides helping to enhance the technical capabilities of its experts, he said. "In this regard and in order for TNB to effectively penetrate the Yemen market, a strong and reputable partner such as natco will be necessary to navigate the local environment," added Tan Sri Leo Moggie.
Meanwhile, Director of Hayel Saeed Anam (HSA) Group (the Parent Company of natco), Mr Fouad Hayel Saeed said the areas of cooperation aimed by the LoU is crucial in boosting the industrial development of Yemen. "TNB with its vast experience in power generation project can provide a major contribution in this sector to meet the power generation requirement of Yemen," he added.
The LoU was signed by Mr Fouad Hayel Saeed and President / Chief Executive Officer of TNB, Y. Bhg. Dato' Sri Che Khalib Mohamad Noh. It was witnessed by Ambassador of Yemen, H.E. Mr Abdulla Mohamed Ali Al-Montaser, Chairman of TNB, Y. Bhg. Tan Sri Leo Moggie and Chief Executive Officer of Asian Finance Bank, Y. Bhg. Datuk Mohamed Azahari Kamil.
