AES Communications Bolivia Enters Strategic Partnership With Largest Bolivia Local Telephone Carrier
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ARLINGTON, Va.--(BUSINESS WIRE)--May 9, 2001--The AES Corporation (NYSE:AES - news) announced today that its subsidiary AES Communications Bolivia signed a strategic alliance agreement with COTEL, the largest local telephone carrier in Bolivia, that operates in the greater metropolitan area of La Paz, the nations capital and largest city of the country.
The agreement calls for COTEL to purchase up to 15% of AES Communications Bolivia for approximately $21 million, which will be paid in the form of COTEL interconnect charges and the usage of COTEL infrastructure, such as outside plants, poles, ducts and last mile connection for a period of 40 years.
The COTEL interconnect charges will be based on a total of 275.1 million minutes of service which AES Communications Bolivia will be entitled to use without charge. It is estimated that this quantity of minutes will be equivalent to 3 to 6 years of usage.
AES Communications Bolivia initiated data transmission services in the city of La Paz, Bolivia in September 2000 and is currently building a fiber optic network across Bolivia to provide state-of-the-art communication services, including data transmission, internet and national and international long distance telephony.
Tom Tribone, Executive Vice President of AES stated, ``We are very pleased to enter this alliance with COTEL, we believe that it will be very beneficial to both of us. It positions AES Communications Bolivia as one of the top two telecommunication providers in the country by establishing our business in the largest metropolitan market and acquiring a client base that currently generates 40% of the country's incoming and outgoing long distance calls. COTEL, with its 165,000 customers will benefit from AES's national and international network that will provide the horizontal telecommunication integration that the cooperative has been searching for in order to prosper in the new deregulated environment.''
Dennis Bakke, CEO of AES, stated, ``We're making a difference in Bolivia by providing the vital infrastructure needed there and this alliance with COTEL is a major step forward as we extend our mission in Bolivia.''
Business development milestones in 2001 include the following:
In May, a subsidiary of AES secured the financing for its, $348.6 million, 427 MW Barka facility in Oman.
In May AES announced that it won a bid for approximately $23.2 million to purchase a 75% controlling interest in Rivenoblenergo, the distribution company that serves the Rivno region, which is about 200 kms from Kiev, the capital city of Ukraine.
In April, AES announced that it won a bid for approximately $45.9 million to purchase a 75% controlling interest in Kievoblenergo the distribution company that serves the region that surrounds Kiev, the capital city of Ukraine.
In April, a subsidiary of AES signed agreements for the financing of its $300 million, 450 MW combined cycle gas-fired Meghnaghat power plant in Bangladesh.
In April, a subsidiary of AES completed a $180 million financing for its 360 MW gas-fired combined cycle facility Haripur in Bangladesh.
In April, AES announced the completion of its acquisition of IPALCO in Indiana.
In March, a subsidiary of AES secured the financing for the 720 MW gas-fired Granite Ridge project in New Hampshire.
In March, a subsidiary of AES acquired from EniChem SpA an oil-fired 140MW cogeneration facility in the town of Ottana, which is in the province of Nuoro, Sardinia, Italy.
In February, a subsidiary of AES entered an agreement to purchase all of the energy assets of Thermo Ecotek Corporation, a wholly owned subsidiary of Thermo Electron Corporation of Waltham, Massachusetts for $195 million.
In January, AES announced the start of construction of the $300 million AES Wolf Hollow power plant at a site in Granbury, Texas.
In January, a subsidiary of AES acquired a majority interest in a 290MW barge-mounted natural-gas-fired electric generating business in Lagos, Nigeria.
In January, AES Huntington Beach submitted a proposal to the California Energy Commission to restart two retired gas-fired units that will add an additional 450 megawatts of generation in the electricity-strapped state of California.
In January, AES announced the purchase of an additional 39% ownership interest in Hidroelectrica Alicura, a 1000 MW hydro plant in Argentina.
In January, AES announced that it had successfully completed its offer to exchange all American Depositary Shares of Gener S.A. for AES common stock.
AES is a leading global power company comprised of competitive generation, distribution and retail supply businesses in Argentina, Australia, Bangladesh, Brazil, Canada, Chile, China, Colombia, Dominican Republic, El Salvador, Georgia, Hungary, India, Italy, Kazakhstan, the Netherlands, Nigeria, Mexico, Oman, Pakistan, Panama, Sri Lanka, Ukraine, the United Kingdom, the United States and Venezuela.
The company's generating assets include interests in one hundred and sixty six facilities totaling over 58 gigawatts of capacity. AES's electricity distribution network has over 920,000 km of conductor and associated rights of way and sells over 126,000 gigawatt hours per year to over 17 million end-use customers.
In addition, through its various retail electricity supply businesses, the company sells electricity to over 154,000 end-use customers.
AES is dedicated to providing electricity worldwide in a socially responsible way.
This news release may include forward-looking statements. Actual events and results may differ materially from those projected. Factors that could affect actual results are discussed in AES's filings with the Securities and Exchange Commission, and readers are encouraged to read those filings to learn more about the risk factors associated with AES's businesses.
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Contact:
AES Corporation
Kenneth R. Woodcock, 703/522-1315 |
