São Paulo – Company Procable Energy and Telecommunications, from São Paulo, signed a protocol with the government of the state of Rio Grande do Sul to invest 40 million Brazilian reals (US$ 25.6 million) in a unit for production of cables in the city of Montenegro, in Rio Grande do Sul. The operation will be developed in partnership with Fujikura, from Japan, and Procable should also transfer its technology from the city of São Paulo to Rio Grande do Sul. The start of production is forecasted for December next year.
According to figures disclosed on the site of the government of the state of Rio Grande do Sul, investment, however, will be promoted in a period of five years.
The unit will be used by Fujikura, which has annual revenues of US$ 7 billion, to supply Latin America. The company, in consortium with CEEE-GT, won an auction by the National Electric Energy Agency (Aneel) for the construction and operation of an underground transmission line in Porto Alegre, to receive investment of 54 million reals (US$ 34.6 million).
Also in partnership with CEEE-GT, but along with the Chinese Insigma, Procable won another Aneel auction for the construction and operation of a set of transmission lines and substation in Rio Grande do Sul, in an enterprise of 230 million reals (US$ 147 million) and will be financed by China Development Bank.
*Translated by Mark Ament
