Marubeni Corp. said Monday that it would acquire a 20 percent stake in a Cambodia-based electricity generation and transmission business owned and operated by Malaysia’s Leader Group, marking Japan’s first foray into Cambodia’s power market.
Leader Infrastructure Ltd. operates two 50 megawatt coal-fired power stations in Sihanoukville, southern Cambodia, and transmission lines and substations outside the capital Phnom Penh.
Leader Group is Malaysia’s largest cable and wire producer. It was the first foreign operator to become an independent power producer in Cambodia.
Under a medium-term strategy agreed in April 2013, Marubeni designated five countries in the Mekong River basin as priority targets, saying it would accelerate investments there.