Sime Darby has been awarded a $4.28B contract to build undersea power cables that will transfer power from the 2400MW Bakun hydroelectric project on Borneo Island to the Malaysian power grid.

According to reports in the Business Times, Sime will partner a unit of ABB in the project.

The Bakun project is nearing completion in the state of Sarawak on Borneo Island. Once complete, power distributor Tenaga Nasional is expected to pay between 15-18 Malaysian cents per kWh for the electricity, said Business Times.