CT Power: Mauritian Babita Jowaheer at the Board of Directors

11 years, 1 month ago - March 02, 2013

The names of the CT Power Project proponents are now known. These Subramaniam Mariappan and Chay Kwong Min, two Malaysians. Babita Jowaheer, a Mauritian, also sits on the board of the company that controls the coal plant project.

In 2005, promoter Subramaniam Mariappan and Chay Kwong Min showed CT Power Ltd. company in Malaysia. In order to operate on the ground Mauritian however, a company must be domiciled in Mauritius. Therefore, developers have created the Malaysian CT Power (Mauritius) Ltd (MCTP), a company incorporated under the laws of the country.

The Mauritius is not a shareholder in this company. Upon the request of the Government of Mauritius, the developers decided that 26% of the shares would go to the Central Electricity Board (CEB). This is now done. The company will operate under the name CT Power Holdings Ltd.. The Board of Directors shall consist of ten members and the CEB will be represented by three people.

The project, remember, includes the establishment of a central 2 x 55 megawatt will produce electricity for the next 25 years. After 20 years of operation, the plant will go entirely to CEB.

During 2008, there were several negotiations between the CEB and MCTP, including the 'Power Purchase Agreement and the' Coal Supply Agreement '. Towards the end of 2008, the developers had already invested Rs 132 million in the project.

Text by Le Matinal

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