Astra Energy, Inc. announced the Company has engaged the government of Tanzania in discussions to construct a significantly sized, combined cycle power plant using natural gas as feedstock. Following meetings last week with the Tanzania Electric Supply Company Ltd. (TANESCO), the country's vertically integrated electricity utility company, TANESCO provided a formal letter authorizing Astra to prepare a Project Concept Note. The Project Concept Note will provide salient key technical and financial parameters of the proposed project.

It will be reviewed for approval by TANESCO and the Ministry of Energy and is the key piece of information used by the Government of Tanzania to trigger a detailed Memorandum of Understanding. Reaching this milestone is an indication of efforts of Tanzania's new leadership to create a conducive and supportive environment for foreign direct investment in infrastructure development intended to stimulate the country's aggressive manufacturing sector. Tanzania requires a significant amount of electricity to power its ambitious economic growth and transformation strategy.

The country is blessed with an estimated 57 trillion cubic feet of natural gas reserves.