HomeNewsEletrobràƒ¡s defends privatization of power generation companies

Eletrobràƒ¡s defends privatization of power generation companies

SAO PAULO, Sept. 19, 2000 (Global News) à‚– Eletrobràƒ¡s’ chairman, Firmino Sampaio, defended the privatization of power generation companies owned by the Eletrobtràƒ¡s group.

He pointed out that these are attractive firms, like power plant Furnas, which is hardly ridden by debt.

“Furnas’ debt, for instance, adds to about 10% of its equity,” recalled Sampaio, who was one of the lecturers at the 19th Plenary Meeting of the Brazil-USA Corporate Council conducted yesterday in the capital of Sao Paulo.

Eletrobràƒ¡s’ chairman affirmed the privatization of these companies is necessary to make their expansion possible and be able to meet the country’s power demand. Sampaio’s speech openly opposes the statements issued by Furnas’s chairman Luis Carlos Santos, who argues that the company should remain a state asset, even if the company’s capital should go through a pulverization process.

à‚© 2000 The Global News