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Strategies & Market Trends : Telebras (TBH) & Brazil -- Ignore unavailable to you. Want to Upgrade?

To: djane who wrote (7188)	8/27/1998 3:50:00 PM
From: djane	Respond to of 22640

Brazil Metropolitana to invest 1 blnreais to 2001 Thursday August 27, 1:54 pm Eastern Time SAO PAULO, Aug 27 (Reuters) - Brazilian utility Eletropaulo Metropolitana (ELPL4.SA) said it plans to invest 1 billion reais in the company through 2001. ''I can guarantee that all of the company's efforts are concentrated on our mission of improving the quality of service,'' Marc Andre Pereira, president of Metropolitana, said in a release. Some 230 million reais will be spent on upgrading the distribution network, he said. Metropolitana was privatized in April in a bid to bring needed investments to the aging distribution network and to raise cash for government coffers. Electricity demand in Brazil has grown at about six percent a year, far outstripping growth in the industry. Light (LIGH3.SA), a Brazilian utility owned by AES Corp. (AES - news), Houston Industries (HOU - news), and steelmaker CSN (CSNA3.SA), bought the Sao Paulo company. More Quotes and News: The AES Corp (NYSE:AES - news) Houston Industries Inc (NYSE:HOU - news) Related News Categories: international Help Copyright c 1998 Reuters Limited. All rights reserved.