New Delhi: Australia's AGL Energy Ltd said on Thursday it intends to build a new natural gas-fired power plant worth about A$400 million ($302.68 million) in the state of New South Wales, in anticipation of a possible supply shortfall stemming from the closure of its Liddell power station.AGL recently came under pressure from the country's Prime Minister to sell or keep running its coal-fired Liddell Power Station following a string of blackouts and price spikes.
The company said that construction of the project is slated for completion by 2022, which is around the same time that the Liddell Power Station will shut.
($1 = 1.3215 Australian dollars)