The Dubai based ETA Star Group part of Abdullah Al Ghurair Group has signed an implementation agreement worth 500 million Dirhams with Pakistan's Ministry of Water & Power, to set up 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). It will be based at Dharki, district Ghotki in Sindh, Pakistan.
The plant will be allocated low BTU gas by Pakistan Government from their Mari Deep reserves for 25 years. It is expected to be completed and functional by 2010 and will supply 134MW electricity to national grid.
Commenting on deal, 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 overall infrastructural development of Pakistan.''
ETA Star Group is simultaneously also developing an Dhs825m hydel power station in northern Pakistan. It is one of pre-qualified bidders for the privatization of Pakistan State Oil Company Ltd. and also developing a 100,000 barrelsday capacity petroleum refinery at Port Qasim, Pakistan.