Spanish Gas Natural To Invest $5.4 Mln in 13 New VNG Stations in Colombia

Spanish gas company Gas Natural will invest $10 bln Colombian pesos ($5.4 mln/3.5 mln euro) in the launch of 13 new vehicular natural gas (VNG) stations under its newest brand GN Auto in Colombia, according to the executive president of Gas Natural, Maria Eugenia Coronado, quoted on March 4, 2008.

The main part of the stations will be kicked off in Colombian capital Bogota. According to Coronado, the funds form part of Gas Natural's plans to strengthen the company's positions on the VNG market in Bogota. The company has invested over 20.5 bln pesos ($11 mln/7.3 mln euro) in the last five years, which help it reach 27 own fuel stations in Colombia, Coronado added. With the new investment, their number will reach 40 stations at the end of 2008.

Now in Bogota and the municipalities of Chia, Zipaquira, Soacha and Madrid, there are 107 fuel stations, that attend 85,000 vehicles per day.

Gas Natural (www.gasnatural.com) operates in the electricity generation business, managing combined-cycle and co-generation plants, and wind farms.

Publication: Business Digest
Provider: AII Data Processing Ltd.
Date: March 5, 2008

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