El Paso sells stake at S.Sulawesi power plant
Monday, August 1 2005 - 05:53 PM WIB
US power firm El Paso Corporation announced on Monday it had agreed to sell its 47.5 percent stake in Sengkang 138-MW gas fired power plant in South Sulawesi along with its stakes in other power plants located in Pakistan, Bangladesh, and the Philippines to a subsidiary of US power firm Globeleq, Ltd. for approximately US$109 million.
The sales are expected to close by the end of the fourth quarter of 2005.(alex)