Macau, China, 6 Feb – Macau electricity company, CEM, will this year begin construction of a fourth link to Guangdong province, which will make it possible to almost double the current power import capacity, the companies chief executive, Vaz Marcelino said Monday in Macau.
Marcelino said at a meeting with journalists that in 2006 the company imported 37 percent of its power from mainland China and that this year that percentage was expected to rise to 45 percent.
in 2006 CEM invested 535 million patacas and this year, according to its CEO, investment is expected to exceed 600 million patacas, although the budget for 2007 has not yet been approved.
CEM ended 2006 with profit of less than the 423.1 million patacas posted in 2005, with sales of 3.1 billion patacas.
CEM was set up in 1972 in order to provide reliable power to Macau and is currently controlled by a Chinese-Portuguese group led by Portugal’s EDP, and a Chinese-French group, which both have 42 percent in the company.
China Power Incorporated, which has a 6 percent share, the Macau government with 7.8 percent and small investors with a total of 2.2 percent are also shareholders in the company. (macauhub)