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Enron Mail |
BRAZIL: CONCLUSION OF MAE RULES
Gazeta Mercantil, 01 Mar 2000, p. a-14:- On February 29th 2000, last outstanding matters on the rules for beginning= =20 of operations of the Brazilian Electricity Wholesale Market (MAE) were=20 decided and approved. Thus, first reference date for the MAE to begin operating was set for=20 September 1st 2000. Rules had been defined into seven groups: prices formation, measurement=20 standardisation, thermal generation, energy reallocation, international=20 interchange, payment of the system's service burdens and penalties. These first six groups will be produced within the next 10 days for approva= l=20 by the Brazilian National Regulatory Agency for Electricity (Aneel), while= =20 the penalties group still remains an outstanding matter to be defined and= =20 approved before September 1st 2000. One outstanding matter that was hindering the definition of MAE's beginning= =20 date was conflicts between electricity distribution and generation companie= s=20 on the way to negotiate the so-called exceding energy, which is the=20 difference between energy initially provided in supply contracts and that= =20 actually consumed on the market. The answer is the creation of energy "credits" whenever consumption is high= er=20 than hired contract. Exceding energy will be converted into credits that ca= n=20 be both exercised afterwards or traded on the market. Payment of distributi= on=20 to generation companies have been maintained as provided in contracts. This credit system will be in effect from September 1st 2000 to December 31= st=20 2002. After that, remaining credits not used will be liquidated through the= =20 optimisation tariffs that currently is about R$ 3/MWh. ARGENTINA: OIL PRICE AND ROYALTIES Los Andes (Argentina), 08 Mar 2000, p. on line:- The US$ 34 per barrel price reached by crude oil in overseas market may ha= ve=20 a positive impact over the incomes received by the province of Mendoza,=20 Argentina, in concept of royalties, according to estimations made by this= =20 province's government. However, Gustavo Callejas, former Secretary of Fuels= =20 of Argentina, admitted such royalties should be increased, as provinces=20 should debate with companies and the federal government the proceedings use= d=20 to fix such incomes. ARGENTINA: FRAUD MANOEUVRE DENOUNCED La Nacion (Argentina), 04 Mar 2000, p. 2/1:- A new scandal involves the Argentine tax bureau AFIP. One of its officials= =20 and a fishing company which also trades gasoline, Kiball, are involved in a= =20 US$ 330mn fraud due to falsified accounts they presented during the terms= =20 1995, 1996 and 1997. Through a "ghost" firm, Kiball purchased fuels without= =20 paying the gasoline transfer tax (ITC) and falsified the payment=20 certification the AFIP grants, and even adulterated the gasoline with a mix= =20 of different fuels. ARGENTINA: WIND NOT SO FREE ANYMORE IN CHUBUT Clarin, 08 Mar 2000, p.20:- Legislators from the Argentine province of Chubut are drafting a bill that= =20 charge companies or entrepreneurs for using the wind for profit. Ecologists= =20 criticise the move and believe that the bill could scare off a US$ 50mn=20 investment in a wind powered electricity plant that would create some 1000= =20 jobs for the province. ARGENTINA: CRUDE OIL PRICES + REGULATION El Cronista Comercial, 07 Mar 2000, p.2:- Argentine Senators are in the midst of drafting a new fuel bill that sends= a=20 clear message to oil companies which it threatens with the return of price= =20 controls. Two other Senators have initiated an action before the country's= =20 Ombudsman claiming that oil companies are abusing their dominant position o= n=20 the Argentine market. ARGENTINA: GAS DISTRIBUTORS PROTEST COMPETITION La Nacion (Argentina), 09 Mar 2000, p. 2/1:- The Argentine gas distributors association Adigas has complained that plan= s=20 by regulatory body Enargas to allow large consumers direct access to the=20 wholesale gas market through brokers will favour new actors in the market a= nd=20 reduce their income. Adigas claimed that its members have respected the rig= ht=20 to access to gas transport and distribution capacity, and that the entry of= =20 new players under more favourable conditions would make it impossible for= =20 them to compete on an equal footing. ARGENTINA: DEBATE OVER ACCESS TO GAS MARKET El Cronista Comercial, 07 Mar 2000, p.3:- The Argentine National Gas Regulator (Enargas) will hold public hearings o= n=20 7 March to determine whether to change or modify the current natural gas=20 commercialising and distribution system. Natural gas retailers want to be= =20 able to compete with gas distributors, but are unable to because of the=20 current fixed rate system. Distributors believe that changing the current= =20 system would violate concession agreements and these companies are=20 threatening to international measures to enforce the agreements. Distributo= rs=20 also say that retailer have made no infrastructure investment in Argentina= =20 and a change in the regulation scheme would create a disincentive for=20 investment in Argentina. Enargas is also considering the possibility of=20 allowing more small and medium sized business access to the wholesale natur= al=20 gas market. ARGENTINA: GOV'T WANTS TO LOWER GAS RATES Buenos Aires Economico, 06 Mar 2000, p.2:- After negotiating a slight drop in telephone and electricity rates, the=20 Argentine government would like to see gas prices follow suit and will=20 conduct public hearings on the matter on 6 March, much to the dislike of=20 Argentine gas distributors. Gas companies state that contrary to the electr= ic=20 and telephone service sectors, natural gas distribution has a very low prof= it=20 margin and there is nowhere to cut. The government initiative aims at=20 reducing production costs for manufacturers and large natural gas consumers= . ARGENTINA: GAS SECTOR DE-REGULATION DEBATED Clarin, 04 Mar 2000, p. 22:- Argentine gas distribution firms resist the government's decision of=20 de-regulating the local gas sector, as they do not want to share their=20 corporate clients with newcomers and be forced to reduce prices. The=20 Argentine gas sector bureau ENARGAS is encouraging a debate to implement=20 de-regulation measures to authorise companies to be supplied gas directly= =20 from producers, without the intervention of gas distribution firms. Big fir= ms=20 demand 10,000 cubic metres of gas daily in Argentina, and all such demand i= s=20 channelled through gas distribution companies. The government wants to redu= ce=20 such amount to 5,000 cubic metres allowing several firms to purchase gas=20 directly from producers, possibly implying a 10%-25% reduction in terms of= =20 prices. In terms of daily distribution of gas, MetroGas leads the sector wi= th=20 15.2mn cubic metres, followed by Camuzzi Gas Pampeana (10.9mn cubic metres)= ,=20 Camuzzi Gas del Sur (9.2mn), Litoral Gas (8.6mn), Gas Natural BAN (8.3mn),= =20 Distribuidora de Gas Cuyana (5.1mn), Distribuidora de Ga s del Centro (4.6mn) and Gasnor (4.5mn). ARGENTINA: GAS MARKET RULING TO COME El Cronista Comercial, 08 Mar 2000, p. 8:- The Argentine natural gas regulatory board, Enargas, now has 60 days to ma= ke=20 a ruling as to whether large consumers of gas have free access to natural g= as=20 distribution networks thereby breaking up the supply chain into production,= =20 transport and distribution. Industry, gas sellers, and consumer rights grou= ps=20 have battled head on with Argentina's gas distributors (Gas Natural BAN,=20 Metrogas, and Camuzzi, among others) to present their case to Enargas. =20 ARGENTINA: ENRON FIGHTS GAS COMPANIES El Cronista Comercial, 06 Mar 2000, p.7:- Public hearings will be held on 7 March in the offices of the Argentine=20 National Gas Regulator (Enargas) to determine whether the Argentine natural= =20 gas market needs more competition and incentives in order to reduce natural= =20 gas costs for the private sector. US gas company Enron which controls 35% o= f=20 Argentina's Transportadora Gas del Sur (TGS) has thrown the first stone in= =20 the fight between gas distributors and gas brokers that want to enter the= =20 market. In fact, Enron believes that the market needs more competitors to= =20 lower rates and offer the possibility of receiving integrated services that= =20 would include the financing of production equipment and other services. The= =20 Argentine government has submitted draft regulation that would allow more= =20 companies to negotiate lower rates with wholesalers and to change the curre= nt=20 charging system.=20 BRAZIL: ALLIANT TO ACQUIRE COMPANIES AGAIN Gazeta Mercantil, 09 Mar 2000, p. c-6:- The US company Alliant changed its strategy for the Brazilian market,=20 planning to continue with the acquisition of Brazilian electricity companie= s. Alliant already acquired 45.6% of the voting capital of Energisa and plans = to=20 compete in the tenders for the privatisation of Cemar, Saelpa, Ceal and=20 Cepisa with US$ 300mn in 5 years. BRAZIL: ELECTRICITY COMPANIES' OUTSOURCING Gazeta Mercantil, 03 Mar 2000, p. c-4:- Many Brazilian electricity distribution companies began to outsource=20 networks and equipment maintenance services after their privatisation in=20 order to reduce costs and increase quality and productivity. Businesses=20 between US$ 400mn and US$ 500mn yearly may be generated with this outsourci= ng=20 trend. The company Elektro signed a contract in the beginning of 2000 by which the= =20 company Potencial (created by former employees) will render several service= s=20 to Elektro, receiving R$ 2.5mn yearly during 4 years for that. Services=20 include electric material selection, electric testing, meters recovery and= =20 control, voltage regulators recovery and equipment maintenance. The company CPFL signed an agreement also in the beginning of 2000 by which= =20 the company Alstom will be responsible for the equipment maintenance,=20 receiving approximately R$ 20mn during 4 years. The company Bandeirante increased its expenses with services rendering from= =20 R$ 45mn in 1998 to R$ 62mn in 1999. Eletropaulo is an exception, not outsourcing maintenance services. It=20 transformed its maintenance area in a business unit which will become a=20 subsidiary later rendering services to other companies too. BRAZIL: US$ 1.3BN INVESTMENTS OF EDP Gazeta Mercantil, 03 Mar 2000, p. c-4:- The Portuguese group EDP (Electricidade de Portugal) plans to invest US$= =20 1.3bn by the end of 2003, focusing on the construction of thermal power=20 stations. The company will invest in 9 thermal power stations projects (total 3,500 M= W)=20 included in the priority program of the Brazilian federal government as=20 follows: - the 500 MW power station in the city of Araraquara (state of Sao Paulo),= =20 still without any partner; - the 88 MW power stations Alto Tiete I and II (state of Sao Paulo), still= =20 without any partner; - the 180 MW power station Cachoeira Paulista (state of Sao Paulo), still= =20 without any partner; - the 180 MW power station Indaiatuba (state of Sao Paulo), still without a= ny=20 partner; - the 480 MW power station Vale do Paraiba (state of Sao Paulo), in=20 partnership with the Brazilian oil company Petrobras; - the 250 MW power station Corumba (state of Mato Grosso do Sul), in=20 partnership with the Brazilian companies Vale do Rio Doce (CVRD) and=20 Petrobras; - the 300 MW power station in the city of Campo Grande (state of Mato Gross= o=20 do Sul) through the company Enersul; - the 500 MW power station of Vitoria (state of Espirito Santo) through the= =20 company Escelsa, in partnership with Petrobras and Vale do Rio Doce; - the 720 MW power station Norte Fluminense (state of Rio de Janeiro), in a= =20 partnership of the companies Eletrobras, Petrobras, Light, Cerj and Escelsa= . BRAZIL: EDP TO INVEST IN THERMAL POWER STATIONS Expansion, 08 Mar 2000, p.11:- Nearly Euro 1,336mn will be allocated in a three-year term by Portuguese= =20 electricity operator Electricidade de Portugal (EDP), in order to build=20 thermal power stations in Brazil. SPAIN: IBERDROLA TO EXPAND BUSINESS El Pais, 09 Mar 2000, p.71:- According to Mr. Antonanzas, responsible for international expansion of=20 Spanish electricity operator Iberdrola, the group intends to become a globa= l=20 services operator. In this sense, it will allocate in a five-year term,=20 nearly 11% of its assets, totalling Pta 400,000mn. On the other hand, Mr. Antonanzas has ratified that Iberdrola has focused o= n=20 Brazil and Mexico its expansion plans in Southern and Central America. BRAZIL: ALLIANT IN PETROBRAS' POWER STATION Gazeta Mercantil, 09 Mar 2000, p. c-6:- The US group Alliant will participate in the project for the construction = of=20 a 100 MW thermal power station of the Brazilian state-owned oil company=20 Petrobras in the Brazilian city of Aracaju (state of Sergipe) with investme= nt=20 of US$ 100mn. ARGENTINA: CENTRAL COSTANERA-EDESUR AGREEMENT El Cronista Comercial, 07 Mar 2000, p. 18:- Argentina's energy generation firm Central Costanera signed an agreement= =20 with energy distribution company Edesur through which Central Costanera wil= l=20 continue supplying electricity to Edesur for an additional 8-year term as o= f=20 May 1, 2000. The agreement implies a reserve of electricity of Central=20 Costanera available for the demand of Edesur which may reach a maximum of 7= 25=20 MW during the Winter season (June to September).=20 ARGENTINA: ENRON CLOSES CONTRACT WITH EDEN Buenos Aires Economico, 06 Mar 2000, p. 2:- US-based Enron signed a year contract to supply 20% of the electricity=20 demand of Argentina's energy distribution firm Empresa Distribuidora de=20 Energia del Norte (EDEN) based in the Northern area of the province of Buen= os=20 Aires. EDEN, an AES-PSEG firm, has annual sales of 3,570 GW. In Argentina,= =20 Enron operates TGS, a gas distribution company. The firm has recently start= ed=20 the construction of a combined cycle station in Cuiaba, Brazil, which will= =20 operate with gas imported from Bolivia and will initially supply electricit= y=20 to Brazil but may also demand additional gas from Argentina. BRAZIL: COSERN'S DEBENTURES Jornal do Commercio, 09 Mar 2000, p. a-19:- An extraordinary general shareholders meeting was held on March 3rd 2000= =20 approving a public issue of debentures by the Brazilian electricity company= =20 Cosern (Companhia Energetica do Rio Grande do Norte). A total of 9,000 debentures will be issued on April 1st 2000 with value of = R$=20 10,000 each.=20 BRAZIL: INTERESTED COMPANIES IN OIL AREAS Gazeta Mercantil, 09 Mar 2000, p. A-11:- According to the Brazilian National Petroleum Agency (ANP), by March 3rd= =20 2000, 36 companies had showed interest to participate in the oil exploratio= n=20 and production concession tenders which will probably be held in the=20 beginning of July 2000.=20 From these 36 companies, 34 are already registered. ANP informed that, from= =20 the registered companies, at least 10 did not participate of the first roun= d=20 of oil areas tenders. The ANP expects that more companies will participate of these tenders=20 compared to the first round of tenders. The agency will hold workshops on= =20 March 15th and 16th in order to explain everything about the concessions. The only companies which revealed that will participate of the tenders are= =20 the state owned Brazilian Petroleum Company (Petrobras) and Enterprise Oil = do=20 Brasil. ARGENTINA: TOTALFINA INVESTED US$ 70MN HERE El Cronista Comercial, 09 Mar 2000, p. 14:- On March 8, 2000, French-Belgian TotalFina announced it had started to=20 operate its US$ 70mn liquefied petroleum gas processing plant in the provin= ce=20 of Tierra del Fuego, Southern Argentina. The plant is owned by Cuenca Marin= a=20 Austral I, a consortium conformed by Total Austral (37.5%), Wintershall=20 Energia (37.5%) and Pan American Energy (25%). The plant has an installed= =20 capacity to process 8mn cubic metres of gas per day and produce 250,000=20 annual tons of LPG and 60,000 tons of other liquid derivatives of oil and= =20 gas. The LPG produced will be sent through a pipeline to Puerto Arenas, Chi= le=20 and marketed in Chile and Brazil. ARGENTINA/CHILE: REPSOL-ENAP AGREEMENT El Cronista Comercial, 07 Mar 2000, p. 18:- Chile's oil firm Enap and its Spanish-Argentine counterpart Repsol-YPF may= =20 close an agreement to develop joint-ventures in the area of gas distributio= n=20 in Chile and Argentina as of April 2000. Both firms are already partners in= =20 the Estenssoro-Pedrals gas pipeline which links the Neuquen province gas=20 fields with Talcahuano and Chile's Pacific gas pipeline. They are also=20 partners in projects in Venezuela and Ecuador. The alliance is supported by= =20 the possible acquisition of Transcanada's assets by Enap. Repsol is studyin= g=20 similar alliances with Petropar from Paraguay and Petrobras from Brazil. URUGUAY: GASODUCTO CRUZ DEL SUR WORKS COMING UP El Observador, 06 Mar 2000, p. 9:- George Ferguson, the president of the consortium Gasoducto Cruz del Sur,= =20 announced this firm may start the construction of a natural gas network in= =20 Southern Uruguay by June 2000. The firm was adjudicated the construction an= d=20 exploitation of a gas pipeline which will allow Argentina to export gas to= =20 Uruguay. It already accounts with the permission of Uruguay's environment= =20 protection bureau DINAMA. Early in April 2000, Gasoducto Cruz del Sur will= =20 call for a tender process to adjudicate the works related to the gas=20 pipeline.=20 ARGENTINA: PEREZ COMPANC 4Q RESULTS La Nacion (Argentina), 08 Mar 2000, p. 2/1:- Oil sector analysts anticipated that Argentine oil company Perez Companc= =20 would report profits of some US$ 48 to 49mn in the fourth quarter of 1999,= =20 down from US$ 53mn in the same period of 1998. The fall was attributed to t= he=20 fact that the method of price insurance used by the company would prevent i= t=20 from receiving the full benefit of the rise in world oil prices during the= =20 period. BRAZIL: NO FUELS PRICES INCREASES O Estado de S.Paulo, 09 Mar 2000, p. b-1:- The fuels prices in Brazil will not increase by the end of the 1st half of= =20 2000 even with the higher oil prices, as informed the Brazilian president= =20 Fernando Henrique Cardoso on March 8th 2000. BRAZIL: OIL-ACCOUNT INCREASING O Estado de S.Paulo, 09 Mar 2000, p. b-1:- The Brazilian oil account balance increased from R$ 2.439bn in January 200= 0=20 to R$ 2.55bn in February 2000 and is expected to reach R$ 2.65bn in March= =20 2000. The oil-account is the debt of the Brazilian federal government with the=20 state-owned oil company Petrobras and it will increase to avoid fuels price= s=20 increases. ARGENTINA: SOYA LED 1999 EXPORTS La Nacion (Argentina), 04 Mar 2000, p. 2/1:- Representing 15.4% of Argentina's overall exports of 1999, this country's= =20 soya exports totalled US$ 3.5975bn during 1999, according to figures releas= ed=20 by the Argentine statistics bureau INDEC. Soya exports were even over oil a= nd=20 gas exports which reached an overall US$ 2.649bn and grew 18.7% during 1999= .=20 The third position was occupied by automotive exports, which totalled US$= =20 1.965bn during 1999, 42.9% under the figure reported during the previous=20 year, followed by wheat, sunflower, corn and fishing products exports. ARGENTINA: CRUDE OIL OUTPUT FELL 5.5% Buenos Aires Economico, 07 Mar 2000, p. 2:- As a result of lower investments destined to oil exploitation activities= =20 during the first half of 1999, Argentina's crude oil output fell 5.5% durin= g=20 1999, on a year-to-year comparison, according to figures released by this= =20 country's oil and gas institute (IAPG). On the contrary, its natural gas=20 output grew 9.8%, always as regards the previous year. The low price report= ed=20 by crude oil during the first half of 1999 discouraged companies to invest = in=20 the mentioned activities, remarks the IAPG. During 1999, Argentina produced= =20 116.191mn cubic metres per day of natural gas and 127.233 cubic metres per= =20 day of crude oil, 33.6% of which was exported. ARGENTINA: POSSIBLE PETROL INCREASES El Cronista Comercial, 08 Mar 2000, p. 9:- The increase in international oil prices is both a curse and a blessing fo= r=20 Argentina. While local oil companies decide whether to raise petrol yet aga= in=20 and thereby affect the consumer's pocket, the increase could translate into= =20 US$ 4.3bn in extra income for the country as result of oil exports. Estimat= es=20 are that oil exports could reach the US$ 7.3bn mark for 2000, or 2.5 times= =20 that of 1999, thus becoming Argentina's main export.=20 BOLIVIA/CHILE/PARAGUAY: NEW MANAGER OF ESSO El Cronista Comercial, 06 Mar 2000, p. 14:- John McCaffrey has been appointed as the president of the board of Esso, a= n=20 Exxon company, and as functional representative of this firm for Bolivia,= =20 Chile, Paraguay and Uruguay, replacing Jens Dreyer who returned to work at= =20 Esso's Central Europe Unit based in Hamburg, Germany. BRAZIL: TEXACO TO PAY FOR ENVIRONMENT ACCIDENT Jornal do Commercio, 09 Mar 2000, p. a-13:- The Brazilian subsidiary of the US oil company Texaco accepted on March 8t= h=20 2000 to pay indemnities related to an environmental accident with the sinki= ng=20 of a ferryboat in the River Para. Indemnities will be paid to public institutions which had expenses to suppo= rt=20 the recovery of the ferryboat and to fisherpeople and people who live close= =20 to the river and were hindered by the accident. MEXICO: ENRON TO RUN BUFETE El Economista (Mexico), 03 Mar 2000, p. online:- Creditors of the bankrupt Mexican construction firm, Bufete Industrial, ha= ve=20 decided to hand over the running of the company to the US-based Enron=20 Engineering & Construction Company (EECC) in exchange for a minority share = in=20 the new company. Bufete will continue to have its headquarters in Mexico=20 city. Bufete creditors are Citibank, Serfin and Bancomext.=20 MEXICO: CANTARELL PLATFORMS INSTALLED El Financiero (Mexico), 06 Mar 2000, online:- Mexican state oil company Pemex has announced that the first habitational= =20 platforms forming part of the Cantarell offshore oil project will be=20 installed during March 2000. The Akal B and Akal L modules will be installe= d=20 by the consortium Cabyl, formed by US-based Enron, Brazilian Odebrecht and= =20 Mexican CIGSA, under a US$ 102.6mn. The consortium has a total of three=20 contracts for habitational platforms at the site, valued at US$ 274mn. ARGENTINA: GOV'T AGAINST OIL REGULATIONS El Cronista Comercial, 09 Mar 2000, p. 5:- Argentina's Energy Secretary, Daniel Montamat, qualified as interventionis= t=20 a proposed bill to fix oil prices recently introduced in the senate. Montam= at=20 contends that those who wrote the bill forget that YPF is no longer a=20 state-owned company. The administration of Argentine president, Fernando de= =20 la Rua, is about to introduce its own oil bill that would back up the curre= nt=20 deregulation of this market. LATIN AMERICA: IBERDROLA WILL INVEST US$ 2.325BN Folha de S.Paulo, 09 Mar 2000, p. 2-8:- The Spanish company Iberdrola informed on March 8th 2000 its plans for Lat= in=20 America: - investments of US$ 2.325bn by the year 2005, probably be more concentrate= d=20 in Brazil and Mexico; - some partnerships with the also Spanish group Telefonica; - in Brazil, will concentrate its operations in the cellular telephony sect= or=20 (Iberdrola is shareholder of the Brazilian cellular telephony operators Tel= e=20 Leste Celular and Tele Sudeste Celular), and will probably sell its shares = in=20 fixed telephony operators, because the Brazilian telecommunications rules d= o=20 not allow companies to have fixed and cellular telephony operations in the= =20 same areas; - will participate of the next privatisation processes to be promoted in=20 Brazil and Mexico. Iberdrola expects a profit of approximately US$ 170mn in the year 2004 in t= he=20 Latin America and has also electricity operations. BRAZIL: CATAGUASES' THERMOELECTRIC PLANTS O Estado de S.Paulo, 06 Mar 2000, p. B-2:- The Brazilian energy company Companhia Forca e Luz Cataguazes-Leopoldina= =20 will invest the amount of R$ 210mn to install 2 thermoelectric plants, one = in=20 the city of Juiz de Fora (state of Minas Gerais) and other in the state of= =20 Sergipe, in a partnership with the Brazilian Petroleum Company (Petrobras).= =20 The National Bank for Economic and Social Development (BNDES) will finance= =20 part of the investments for the construction of these plants, which are par= t=20 of the Thermoelectricity Priority Program 2000-2003. ARGENTINA: PETROL PRICES REDUCE DEMAND Clarin, 09 Mar 2000, p. 23:- Argentine service stations estimate that petrol and diesel sales fell by= =20 20-25% in the first two months of 2000 as a result of the rise in prices.= =20 According to independent service stations association FECRA, average sales= =20 have fallen from 200-220,000 litres per month two years ago to 150-170,000 = at=20 present. However, while in 1991 6bn litres of petrol were sold at a price o= f=20 US$ 0.60, in 1999 5.2bn litres were sold at US$ 1 per litre. As a result, o= il=20 companies saw their income rise from US$ 3.5bn to US$ 5bn, despite the fall= =20 in volumes sold. MEXICO: ENRON BUYS ADDITIONAL 10% OF TRIBASA El Financiero (Mexico), 09 Mar 2000, p. on line:- US-based Enron Corp. may expand its current 10% stake in Mexico's=20 engineering construction projects developer Tribasa to 20%, to cover the US= $=20 27mn loan it granted to this company. Tribasa plans to reduce its financial= =20 liabilities some US$ 200mn during the year 2000. The firm is 50% controlled= =20 by the Mexican family Pe=0Faloza.
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