Pakistan utility to invest $70 million in gas system
Sui Southern Gas Co. Ltd., the Pakistan gas utility that supplies Sindh and Baluchistan provinces, plans to invest 4 billion rupees ($70 million) over 2 years to rehabilitate and expand its infrastructure, said Managing Director Mukhtar Ahmed. He said 1 billion rupees would be invested this year.
KARACHI�Sui Southern Gas Co. Ltd., the Pakistan utility that supplies gas to Sindh and Baluchistan provinces, plans to invest 4 billion rupees ($70 million) over 2 years to rehabilitate and expand its infrastructure.
Managing Director Mukhtar Ahmed said 1 billion rupees would be invested this year.
He said the investment was essential to meet growing gas demand. Pakistani demand is projected to increase to 3.9 bcfd by the year 2010 from 2.45 bcfd in 2000.
He said that the company was expecting 500 MMcfd of gas from five new fields: Hasan, Zamzama, Miano, Sawan, and Bhit.
Mukhtar noted SSGC has sold its LPG business for 369 million rupees and pre-bidding activities for sale of its Meter manufacturing plant had been completed.
"Another step towards privatization of the company is the planned sale by the government of 10% equity stake in the company from its present holding of 70.43%," he said.