<AMERICAN VENTURES INC> HAS COGENERATION FUNDING
American Ventures Inc said it
and joint venture partner <Sagamore Corp> have executed an
engagement letter for <Donaldson, Lufkin and Jenrette
Securities Corp> to assist in arranging the financing for the
80 megawatt Mon Valley coal-fired fluidized bed cogeneration
project in Greene County, Pa.
    The company said the electric output from the
previously-announced project is expected to be sold to
Allegheny Power System Inc <AYP> under a 30-year contract now
being negotiated.  It said Donaldson would also provide aid for
two other cogeneration projects being developed.
 Reuter
