ETA Star Group to invest Dhs500m in a power project in Pakistan

TransAsia Gas International LLC, a subsidiary of Al Ghurair Investment LLC is a co-investor in the project.

ETA's subsidiary Star Power Generation Limited will spearhead this gas-fired combined cycle 134MW Independent Power Project (IPP). This project will be based at Dharki, district Ghotki in Sindh, Pakistan. The plant will be allocated low BTU gas by the Government of Pakistan from their Mari Deep reserves for 25 years. The Power project is expected to be completed and functional by 2010 and will supply 134MW electricity to the national grid.

Commenting on the deal, Mr. Hameed Salahuddin, Director of ETA Star Group said,

"This power generation project and other infrastructural projects initiated by us in Pakistan are a testament of our commitment to the country's development. We are proud to be instrumental in contributing to and supporting the overall infrastructural development of Pakistan."

The ETA Star Group has a presence in 22 countries, with a consolidated turnover in excess of $4bn for the year ended 2006. The company plans to become an integrated power generation company in the long run.

ETA Star Group is simultaneously also developing an Dhs825m hydel power station in northern Pakistan. TransAsia is one of the pre-qualified bidders for the privatization of Pakistan State Oil Company Ltd. and is also developing a 100,000 barrels/day capacity petroleum refinery at Port Qasim, Pakistan.