SembCorp Vying for Temasek's Singapore Power Plants

SembCorp Industries will vie for the remaining power-generating companies being sold by Singapore's Temasek Holdings, the Business Times reported, citing SembCorp President Tang Kin Fei.

SembCorp aims to secure one of the three Singapore power- generating companies as it “needs to have scale and a track record,” the newspaper said, citing Tang. SembCorp failed in its bid for Temasek's Tuas Power, the report said.

China Huaneng Group agreed in March to pay S$4.24 billion ($3.12 billion) for Tuas Power. The sale of Power Senoko and Power Seraya will be next. The three generators account for 90 percent of the island's power capacity.

SembCorp is also planning to build a second cogeneration power plant on Singapore's Jurong Island, the newspaper said.