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Venezuela announces fusion of electric firms

Prensa Latina
CARACAS
Petroleumworld.com 04 25 07

President Hugo Chavez announced the country's main electrical energy companies will come together soon to form the Electricity Company of Venezuela.

In his Sunday TV program "Alo Presidente", Chavez indicated the corporation will group such companies as Edelca, Caracas Electricity Firm, Cadafe, and Elecentro.

The president pointed out this will be the only way to overcome operational break-up and lack of coordination.

Chavez instructed Planning and Development Minister Jorge Giordani to start procedures linked to the creation of the projected entity.

In February, the Venezuelan government bought 82.14 percent of stocks the United States AES Firm had in Caracas Electricity Company.

Prensa Latina 24 04 07

Copyright© 2007 Prensa Latina. All Rights Reserved.

 

 

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