Infrastructure company Gamuda, co-founded by tycoon Lin Yun Ling, has assumed a pivotal role in the construction of a 187.5-megawatt hydroelectric power plant in Sabah, Malaysia. The ambitious project, with an estimated cost of 4 billion ringgit ($841 million), will be executed through the joint venture entity known as Upper Padas Power (UPP). Gamuda is set to hold a 45% stake in UPP, with its partners, Sabah Energy Corp. and Kerjaya Kagum Hitech, taking 40% and 15% stakes, respectively.
Upon its completion in 2029, this hydroelectric facility is anticipated to generate up to 1,052 gigawatt hours of clean energy annually. Gamuda, in a regulatory filing to Bursa Malaysia, highlighted the pressing need for increased electricity generation in Sabah, citing the region's current electricity supply reserve margin of less than 12% and the growing demand for green energy from the industrial sector. Ensuring a stable base load is crucial, the company emphasized.
Established in 1976 by Lin Yun Ling and Koon Yew Yin as a construction firm, Gamuda has evolved into one of Malaysia's leading players in the infrastructure and real estate sectors. Among its notable projects is the Stormwater Management and Road Tunnel, developed in collaboration with billionaire Syed Mokhtar AlBukhary's MMC Corp in 2007, serving as an alternative route to and from Kuala Lumpur. Simultaneously, it plays a vital role in floodwater diversion during typhoon events.
Expanding its footprint beyond Malaysia, Gamuda has ventured into international markets, executing projects in Australia, Singapore, Taiwan, the United Kingdom, and Vietnam. Notably, it secured a 3.45 billion ringgit contract for the civil engineering works related to the yellow line of the Kaohsiung Mass Rapid Transit in Taiwan.