ETA pumps $136mn into Pakistan power sector

Dubai-based ETA Star Group plans to invest 500 million dirhams ($136.2 million) in power projects in Pakistan, the company said on Saturday.

ETA, part of the Abdullah Al Ghurair Group, said it has signed a deal with the Ministry of Water and Power to develop a 134-megawatt power plant in the country’s southern Sindh province.

Pakistan will provide gas for the plant from its Mari Deep reserves for 25 years, ETA said.

The project is expected to be completed by 2010.

ETA said it is also developing an 825 million dirham hydropower station in northern Pakistan through TransAsia Gas International, a subsidiary of Al Ghurair Investment.

TransAsia, one of the pre-qualified bidders for the privatisation of Pakistan State Oil Company, is also developing a 100,000 barrels per day (bpd) capacity petroleum refinery at Port Qasim in Karachi, ETA said.

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