Chilgener to invest in Columbia and Brazil

Jul 23, 1997 02:00 AM

July 3, 1997 Chile's second biggest electricity generating company, Chilgener, will invest $ 250 million in Colombia over the next 5 years as part of a $ 3.3 billion expansion drive throughout Latin America. Some $ 250 million will be spent on buying power stations to be privatised by the Colombian government and another $ 500 million will be invested in Brazil.
Chile's electricity conglomerate, Chilquinta is also bidding to expand into Colombia. The company, along with 19 other companies from Canada, the United States and Spain, have expressed interest in participating in a public tender to acquire a 48 % stake in Colombia's Empresa de Energia de Bogota (EEB) which is being partially privatised. EEB is being sold off to raise some 1.5 billion dollars to pay off debts which are nearing maturity. Shares in EEB's commercial, distribution and electricity generation arms will be sold on August 27.

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