China Co Signs Deal To Build Pakistan Gas-Fired Pwr Plant

BEIJING -(Dow Jones)- State-owned China National Chemical Engineering Group said Friday it signed a $139 million contract to build a gas-fired power facility in Pakistan as it actively seeks overseas engineering projects to boost its profits.

The facility will have a capacity of 230 megawatts and construction will be completed in 25 months, the company said in a statement on its Web site, without disclosing its location or where the gas would be sourced from.

The contract was signed Jan. 14.

The plant will provide electricity to Pakistan's national grid, it added.

The company said its profits in 2006 were estimated at CNY340 million ($43.7 million), up 57% on year, while revenue was estimated at CNY15.3 billion, up 14% .

Pakistan is suffering a shortage of electricity due to insufficient generation capacity.


http://www.nasdaq.com/aspxcontent/NewsStor...nternational.na