Bakun hydroelectric dam photo taken on July 20, 2010.

Sarawak Chief Minister Tan Sri Abdul Taib Mahmud did not rule out the possibility of the state government taking over Bakun hydroelectric dam from federal government latest media reports suggested.

“We’re trying to find out whether it is possible to buy Bakun. We are approaching the federal government whether it wants to resell (Bakun),” he told reporters at Wisma Bapa Malaysia Kuching, yesterday.

Federal government which own the dam via Ministry of Finance’s Sarawak Hidro Bhd ready to offload Bakun for RM8, two billion more than what the state ready to take according to Malaysiakini.

The latest development if finally go through would see the state government in total control of three major hydroelectric dams in the state – Lubok Antu, Bakun and under construction Murum dam.

Bakun which has the capacity to produce 2,400MW of electricity, will be impounded as early as October.

“If we are given the green light, we are looking at October to start the impoundment, subject to the water level,” he was reported to have told Malaysiakini.

Taib also denied the on-going negotiation of electricity tariff agreement had delayed the impoundment of the Bakun dam – which cost had ballooned from 1986’s estimate of RM2.4 billion to more than RM7 billion upon completion in December.