China's SGCC plans to launch joint venture with Malaysia's 1MDB

摘要

State grid corporation of China (SGCC) and IMalaysia Development Bertiad ("1MDB") are planning to set up a joint-venture company to undertake major projects in the Sarawak Corridor of Renewable Energy (SCORE), including the development of three dams and a smelter plant.rnIn a statement, the two companies said they intend to jointly pursue a variety of projects in SCORE, with the ultimate intent to act as major investors in SCORE as a whole. The projects currently envisaged by the two companies may create as much as US$11B worth of economic value.