Dana Gas, Taqa move in opposite directions
- United Arab Emirates: Sunday, January 13 - 2013 at 14:10
Contrary to the Dubai market, the ADX General Index kept on rising Sunday, closing up 0.84% to reach 2,751.12 points. Dana Gas rose to a 10-month high, finishing 2% higher at Dhs0.62. Earlier in the day, the Sharjah-based energy company said the "EBGDCo" Natural Gas Liquids (NGL) extraction plant at Ras Shukheir, Egypt, which began operating commercially on Oct. 1 2012 processed in its first 3 months, a combined 12,340 metric tonnes of Propane (10,500) and Butane (1,840). Abu Dhabi National Energy Co. or Taqa fell 0.73% to end at Dhs1.36. Taqa announced today it acquired an interest in Himachal Sorang Power Limited (HSPL), the developer of a 100 megawatt (MW) hydroelectric plant in the northern Indian state of Himachal Pradesh. Construction of the Sorang hydroelectric project is 85% complete and the plant is expected to begin operations in 2013.
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