SembCorp eyes expansion

SembCorp eyes expansion

SINGPOERE (DPA): SembCorp Industries Ltd., Southeast Asia's largest civil engineering company, is looking at South Korea, Malaysia, Thailand, the Philippines and Indonesia in its zeal to invest in deregulated power plants, it was reported on Saturday.

"If there are privatised projects which meet our investment criteria, we will be interested in them," spokesman Kelvin Lee told The Business Times.

SembCorp has identified power generation as one of its main businesses, attracted by the sector's reduce reliance on the economic cycle.

It is currently preparing a bid for a Singapore state-owned power plant which the city-state's investment arm, Temasek Holdings, expects to sell in the second half of the year.

Other international companies including Union Energy Inc. of Canada and Edison Mission Energy have also expressed interest in buying Asian power assets as they are freed up through deregulation.