The Chief Minister today announced that the state government is acquiring the Bakun hydro dam from the federal government at a capital cost of RM2.5 billion.
"Agreement has been reached in principle that the ownership and operation of the Bakun HEP, the country's largest hydropower electric plant shall be fully returned to Sarawak through the acquisition of shares of Sarawak Hidro Sdn Bhd.
"This is a major concession by Putra Jaya and I would like to thank the Prime Minister for this. The acquisition of Bakun HEP represents part of our overall strategic plan to develop and consolidate the state's abundant energy sources which makes the state in full control of energy for the benefit of our people and our economy in the long run," CM Abg Joe said in a press conference at his office this morning.
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