The president of Spain's Endesa (ELE.MC), Borja Prado, said the
energy producer will invest about $3.93 billion in Colombia over
the next four years, according to a report in newspaper La
Republica.
The newspaper's website on Thursday reported Prado as saying the
main component of the investment will be in infrastructure,
including an $837 million investment in the hydroelectric plant El
Quimbo, in Huila.
"We have to take into account that electricity infrastructure
projects are long-term which means that our investment in El Quimbo
will take, more or less, four years," Prado said during a panel
discussion, the newspaper reported.
Endesa holds a 48.48% controlling stake in Emgesa, the country's
largest generation company, and a 48.48% controlling stake in the
distribution company Codensa, in Colombia.
In the panel, Prado was quoted as saying that the company had no
concerns about any government intervention in its operations in
Colombia.
"Here we know that no one is going to change the rules of the
game all of a sudden," he said, when asked about the decision by
the government of Argentina to nationalize that country's largest
oil and gas producer.
--By Robert Kozak, Dow Jones Newswires; 51-99927 7269;
robert.kozak@dowjones.com