The federal government has yet to commit to any price in its negotiation with Sarawak on the sale of Bakun hydroelectric project, which is into its final completion now.

Second Finance Minister Ahmad Husni Hanadzlah said that in a discussion several days ago, both parties had embarked on a due diligence process to specify the cost of construction.

husni eon bank function 120310 ahmad husni Speaking to reporters after presenting keys of Syarikat Perumahan Negara Bhd Vista Perdana affordable houses to the homeowners here today, he stressed that the federal government had no intention of making profit from the sale.

"We know Sarawak requires more energy. They got their corridor (Sarawak corridor of Renewable Energy) area and lots of development opportunities," he aid.

He said that although no time frame was given for the negotiation, he hoped it would be completed as soon as possible.

When asked whether the state would be required to pay RM7.3 billion being he construction cost of the project, Husni replied: "Let us don't ask about the price, yet. It will be announced after the negotiation."

Money from Sarawak gov't

Energy, Green Technology and Water Minister Peter Chin revealed yesterday that the federal government had agreed to sell the Bakun hydroelectric dam in Belaga to the Sarawak government.

The project, Malaysia's largest hydroelectric dam, is located on the Balui River in the upper Rejang River basin, some 37km upstream from Belaga.

Hailed as the second tallest concrete rock-filled dam in the world, the project is expected to be completed by December.

About 300MW of hydropower from the first turbine is expected to be generated by the middle of next year. It will have the capacity to generate 2,400MW of power when all eight turbines are in place by 2012.

- Bernama