Sarawak to acquire Bakun Dam from Putrajaya, says report

Sources say the state government could pay up to RM8 billion for the acquisition.

PETALING JAYA: News of Sarawak’s impending acquisition of the Bakun Hydroelectric Power Dam is expected today, according to The Borneo Post.

Sources told the Sarawak-based daily that the state government had decided to acquire the dam from the federal government during a state cabinet meeting last August.

However, there has been differing comments as to the agreed purchase price that Sarawak will pay for the Bakun Dam, with some stating it is RM6 billion, and others saying it could go up to RM8 billion.

Sarawak Chief Minister Abang Johari Openg is expected to make the announcement at a press conference today, according to Borneo Post.

Meanwhile, the Chief Minister’s deputy, James Jemut Masing denied having any knowledge of the sale being concluded, saying only that the Sarawak government was interested in buying the dam.

Sources told Borneo Post that Putrajaya intended to channel the money from the sale of the Bakun Dam back to the state to help finance the RM16.5 billion Pan-Borneo project.

It was previously reported that the Bakun Dam cost RM7.5 billion and was officially connected to the state’s power grid on Oct 6, 2011.

Last year, Bernama reported that water royalty from the dam had contributed more than RM100 million in revenue to Sarawak’s coffers, enabling the state government to reduce the electricity tariff. -FMT