Brazil, Argentina and Venezuela plan to create a
multinational company to build and manage an 8,000km pipeline
linking the three countries, Brazil's mines and energy ministry
said in a statement.
The three countries decided last week to divide equally the
initial US$9.2mn cost of the project's development studies.
Venezuela's state oil company PDVSA will be responsible for
the selection and hiring of international consultants to carry
out technical and engineering studies, while Brazil will
coordinate environmental impact studies, the statement
Total investment in the project is estimated at some
US$25bn. Initial feasibility studies are expected to be
concluded in July.
Mexico's Vicente Fox administration will oversee
public-private investments of some 50 billion pesos ($4.7
billion) this year in electricity projects, 48% more than the
total amount invested during the six years of the previous
administration, the presidential press office said in a
Fox officially started operations on Monday of state power
company CFE's expanded Hermosillo thermoelectric plant in
northern Sonora state, which has been converted to combined
cycle from turbogas, as well as a new CFE customer service
center in Sonora.
Fox's administration has overseen the start of operations of
32 new power generation plants to guarantee power service
throughout the country since 2000, when he took office,
representing public and private investments of $8 billion, the
Chile's new President Michelle Bachelet has confirmed
Gustavo Arriagada as local banking regulator and appointed 34
year old lawyer Alberto Etchegaray as head of securities and
insurance regulatory agency SVS. Etchegaray will succeed
Alejandro Ferreiro, who took over in April 2003.