Electroperú aims to trade on Lima stock exchange

Peruvian state-owned generator Electroperú will in the first half of this year begin the necessary paperwork to trade on the Lima stock exchange (BVL), company president César Butrón said.

The generator must first secure authorization from the country's state business financing fund Fonafe and consolidated reserves fund FCR, state news agency Andina quoted Butrón as saying.

Electroperú will initially trade 10% of shares on the market, he said.

Access to the capitals market will allow the company to obtain part of the resources needed to continue its generation capacity expansion program, modernize equipment and carry out maintenance, the executive added.

Projects include a 500MW thermo plant in Chilca, south of Lima, and the 220MW La Guitarra hydro project in Huancavelica department.

Other financing sources the generator is evaluating include bond issues and loans, Butrón said.

Electroperú already operates the 1.01GW Mantaro hydro complex and an 18.7MW thermo plant in Tumbes.

Publication: Business News Americas - English News
Provider: Business News Americas
Date: January 8, 2008

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