This is a 23.6 million dollar investment for Promigas.  The transaction will be finalized once it is approved by the competent authorities in Peru and certain conditions stipulated in the contract have been met.

Calidda, the company being sold by Suez Energy International, currently has a 400-kilometer network and nearly 4,000 connected users in residential, thermoelectric and industrial sectors.  In the industrial sector, it has 85% of the potential demand covered already. For their part, AEI/Promigas hope to continue the work developed by Suez Energy International and will accompany the Peruvian government in its bid to make the mass use of natural gas a reality in every sector.

Ashmore Energy Internacional (AEI) has an interest in 20 energy-sector companies in 13 countries the world over and serves more than 6.5 million users. Its investments are in natural gas distribution and energy generation and distribution.  AEI is a major player in the energy market and has a vast amount of technical and business experience to develop this type of business.  Its highly qualified personnel, management skills and long-term investment vision have made it a financially sound company.

Promigas is a firm with more than 30 years of experience in natural gas transmission and distribution. It effectively developed the natural gas market in a number of sectors in various regions throughout Colombia, under socioeconomic conditions very similar to those in Peru.  Through its efforts, more than 1,500,000 residential customers; that is, seven million Colombians in 175 cities and towns, now have access to this public utility.  Promigas also is a pioneer in the vehicular natural gas business. It entered that sub-sector in 1986 and its growth has surpassed all expectations.

As Promigas has done so successfully in Colombia, these new partners will place their technical, financial and operational experience at the service of Peru, in addition to their knowledge about the sector and the development of natural gas markets in Latin America.