Emsa to invest US$9.6mn in 2008

Colombian distributor Emsa plans to invest 19.2bn pesos (US$9.6mn) this year in central Meta department, the company said in a filing to financial regulator Superfinanciera.

Of the total, 14.3bn pesos will be spent on projects announced in 2007 and the balance on new projects.

The company's 2008 budget predicts total revenues of 150bn pesos, a net profit of 20.0bn pesos and Ebitda of 32.5bn pesos.

Emsa is one of five local power utilities Colombia's federal government is looking to sell.

The government, however, decided in December to postpone the privatization of the utilities in the departments of Cundinamarca, Santander, Norte de Santander, Boyacá and Meta.

Publication: Business News Americas - English News
Provider: Business News Americas
Date: January 11, 2008

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