Houston, TX, July 5, 2006 — El Paso Corp. announced that it has completed the previously announced sale of its interest in a power plant operated by the Fauji Kabirwala Power Co. Ltd. in Pakistan.
In addition, El Paso has closed on the sale of its interest in a power plant operated by NEPC Consortium Power Ltd. in Bangladesh. Interests in both plants were acquired by a subsidiary of Globeleq Ltd.
El Paso received approximately $38 million in exchange for its interest in both plants.
So far in 2006, El Paso has announced or closed approximately $1.4 billion of its targeted $1.2 billion of asset sales in support of the company’s debt reduction program.
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