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Cemig plans £1bn investment in Brazil

Date added: 7th January, 2010 at 09:58
(view all articles from January, 2010)

Categories: Economy, Rio

A multi-million pound investment in Brazil is set to be made by a Latin American energy company, it has been revealed.

Chief financial officer of utility holding group Cemig, Luiz Fernando Rolla, revealed that the company intends to invest between 2.5 and 3 billion reais (£906 million to £1 billion) in acquisition deals over the next 12 months, Business News Americas reported.

He said that the firm is particularly keen to increase its investment in Rio de Janeiro state, which he marked out as a "promising utility market".

"This region is poised for a considerable economic boost due to activities in the pre-salt offshore oil cluster and investments related to events like the 2014 World Cup and 2016 Olympic Games," Mr Rolla added.

Cemig was listed as world leader in the utilities sector - which includes electric energy, gas, sanitation and other such services - by Dow Jones' sustainability index. It has appeared on the list every year since 1999.ADNFCR-1477-ID-19544175-ADNFCR

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