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Article: Argentina: Government increases pressure on electricity companies to swap credit for investment.
- Article from:
- South American Business Information
- Article date:
- October 4, 2004
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Argentina, Oct 04, 2004 (El Cronista/SABI via COMTEX)
In July 2004, the Argentinean Energy Secretary offered the main creditors of Cammesa, the Argentinean government's administrator of the electricity market, the option of turning part of their credit balance (obtained between January 2004 and December 2006) into a fund to finance the construction of new thermoelectric power plants. The new plants would begin operations in 2007. Cammesa currently owes Pesos$780mil to local electricity generation companies. The government has spent the last three months trying to convince the leading generation companies, which are owned by Endesa, Total, AES, CMS, Petrobras and ...