Macau: Electricity company to invest US$125 million in 2008

31 January 2008

Macau, China, 31 Jan – Macau’s electricity company, Companhia de Electricidade de Macau (CEM) in 2008 plans to invest some US$125 million in improving Macau’s electricity supply, said the chairman of the company’s executive commission.

Franklin Willemyns said Wednesday, at a meeting with journalists, that 650 million patacas would be for improving transmission and distribution equipment.

Amongst CEM’s projects for 2008 are a fourth link to Guangdong province that will make its possible to double the capacity for importing electricity.

Willemyns said that in 2007 CEM invested around 900 million patacas in order to meet demand for electricity, which rose by 21 percent against 2006.

In 2007, CEM imported 53.7 percent of its electricity from the Chinese province of Guangdong, whilst in 2004 just 7 percent was imported from the province.

Willemyns also said that the company’s profits in 2007 totaled some 400 million patacas and turnover was around 3 billion patacas.

He also said that by the end of the first half of 2008 CEM could start receiving natural gas for producing its electricity.

Sinosky Energy in June 2007 began building the first phase of infrastructures to provide Macau with natural gas, at a total investment of around 200 million patacas (US$25 million).

Sinosky is a consortium made up of China Petroleum & Chemical Corporation and Companhia de Gas Natural de Macau, Limitada (Sinopec/Gás Natural de Macau) and was granted a 15 year contract for importing and transport of natural gas to Macau.

Over 80 percent of the capital of CEM belongs to two groups with interests in China, Portugal, France and Hong Kong.

The Chinese-French group mainly made up of Suez and NWS Holdings Limited owned 42 percent of the capital and Chinese-Portuguese group, in which Portugal’s EDP has a majority stake, also has 42 percent.

The Government of the special administrative region of Macau (SARM) has 8 percent of the company’s capital, China Power International Holding Ltd has 6 percent and the remaining 2 percent are in the hands of 800 local shareholders. (macauhub)