Energy Holdings International, Inc. (EGYH.OB) ink agreements to Construct Two (2) Power Plants in Bangladesh

HOUSTON, Oct. 24, 2012 /PRNewswire/ -- Bangladesh Power Development Board (BPDB) signed an agreement to construct two combined cycle natural gas fired 225 Mega Watt power plants with Energy Holdings International, Inc. (EHII) and its wholly owned subsidiary EHII MENA DMCC. (http://www1.bssnews.net/newsDetails.php?cat=0&id=266970&date=2012-07-24 , http://www.thedailystar.net/newDesign/latest_news.php?nid=39349)

The first plant will be built at Bibiyana and the second plant will be built at Fenchugang with a total estimated construction cost of approximately $200 million USD each.  The BPDB has agreed to purchase the electricity at an agreed to tariff from EHII. 

Mr. Jalal Alghani, the Vice-Chairman, signed on behalf of EHII and BPDB Secretary Azizul Islam on behalf of Bangladesh.  Mr. Alghani was later received by the Prime Minister, Sheikh Hasima, where the emphasis was laid for EHII to be a long term power developer in the country.

EHII has received a number of inquires from other companies for their desire to participate in these plants and future development in Bangladesh including Siemens.  EHII is in a serious dialog with Siemens at this time to become a partner and supply the turbines, stated Mr. Alghani of EHII. 

Energy Holdings International, Inc. is an American Saudi company with offices in Houston, Texas, Dubai, U.A.E. and Riyadh, Saudi Arabia whose emphasis is Power development in the Middle East and Oil and Gas acquisitions in the Americas.  EHII is a debt free company and is currently evaluating other investment opportunities in the areas of interest stated, Chairman John W. Adair. 

In light of these risks, uncertainties and assumptions, the events anticipated by EHII's forward-looking statements may not occur, and, if any of such events do, we may not have anticipated the timing of their occurrence or the extent of their impact on our actual results.  Accordingly, you should not place any undue reliance on any of EHII's forward-looking statements.  EHII's forward-looking statements speak only as of the date made and EHII undertakes no obligation, other than as required by applicable law, to update or revise its forward-looking statements, whether as a result of new information, subsequent events, anticipated or unanticipated circumstances or otherwise.