El Paso to invest $ 3 bn in energy by 2005

Aug 31, 2001 02:00 AM

The US company, El Paso Energy, will invest $ 3 bn by 2005 in six new thermoelectric plants, each capable of producing 400 to 500 MW. This is in addition to its five similar projects already in operation or in the planning stage at an investment of another $ 3 bn The company is also considering entering into the area of hydro power generation, as well as the complete chain of natural gas production.
El Paso is currently exploring three gas fields and has licenses for seven others. The company recently opened its headquarters in Rio de Janeiro, which is the third centre of energy sales in its worldwide operations. This office will sell the power generated in its Macae Merchant plant.

Source: Valor Economico/SABI via Newspage
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