BRIEF-DUET Group says unit formed JV for natural gas transmission pipeline

Jan 16 (Reuters) - DUET Group DUE.AX :

* Fortescue river gas pipeline project and $100M placement DUE.AX

* Says DBP Development Group has formed a joint venture with Transalta's 100%-owned subsidiary TEC Pilbara Pty Ltd

* Says project is expected to be completed by 31 December 2014 at an estimated total cost of $178 million

* Says to fund DDG's participation in the project, co has launched fully underwritten placement to eligible institutional investors to raise approximately $100 million

* Says DDG holds a 57% interest in the joint venture and transalta holds 43%

* Says distribution guidance of 17 cents per stapled security in FY 2014 is unchanged

* Says initial 20-year, 100% take-or-pay gas transportation contract has been executed between the joint venture and FMG Pilbara Pty Limited

* Source text for Eikon News Search ID:nASXXr0qM

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