SOURCE: Industrial Info Resources

June 20, 2008 05:30 ET

Rurelec to Buy Remaining 50% of Argentina's Energia del Sur, an Industrial Info News Alert

CORDOBA, ARGENTINA--(Marketwire - June 20, 2008) - Researched by Industrial Info Resources (Sugar Land, Texas) -- Rurulec PLC (LON:RUR) (London) recently announced that it has signed a conditional agreement to buy the remaining 50% of Energia del Sur S.A. (EDS) (Chubut, Argentina). The purchase would be carried out with an initial $12 million cash payment, a further payment of $3 million after three months and $10 million due in one year. EDS owns the 76-megawatt (MW) Central Termica Patagonia plant in Comodoro Rivadavia in the Patagonian province of Chubut. The plant is in the final phase of a combined-cycle conversion project that will incorporate a steam turbine to two General Electric (NYSE:GE) (Fairfield, Connecticut) combustion turbines.

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