Iberdrola to invest $ 2.7 bn in Latin America

Aug 05, 1999 02:00 AM

Iberdrola's Iberener is to generate 30 % of the global turnover by the year 2003.
At present Iberener holds the following stakes in Latin America:
- Colombia - Gas Natural, 12.36 %; Gas Oriente, 6.73 %; Cundiboyacense, 8.9 %; and Transcogas, 19.44 % (all operate in gas distribution);
- Guatemala - EEGSA, 39.2 % (power energy); Credieegsa, 39.16 %; and Comegsa, 39.2 %;
- Bolivia - Electropaz, 57.1 % (power energy); Elfeo, 95 % (power energy); Cadeo, 100 %; Edeser, 86.16 %;
- Brazil - CEG, 9.87 % (gas distribution); Riogas, 13.12 % (gas distribution); Coelba, 28.46 % (power energy); Cosern, 22.46 % (power energy); Itapebi, 22.46 % (power energy); CRT, 2.25 % (telecoms); Telesp, 1.35 % (telecoms); Tele Leste, 11.94 % (telecoms); and Tele Sudeste, 1.35 % (telecoms);
- Chile - Essal, 51 % (water); Ibener, 26.3 % (power energy); Colbun, 5.26 % (power energy); and Electroandina, 8.31 % (power energy);
- Argentina - ECS, 17 %.

Iberdrola plans to invest $ 2.75 bn in Latin America between 1999 and 2003. In Brazil, the company will focus on natural gas-fired thermoelectric power energy generation. It considers building plants in the north-eastern region along with Petrobras, and in Rio de Janeiro with Riogas and CEG's partners. Iberdrola's investments in Brazil total $ 1.5 bn, so far.

Source: Gazeta Mercantil Page via Newspage
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