Gas Natural to Spend $70 Million to Expand Customer Base
Posted on: Tuesday, 22 January 2008, 12:00 CST
Spanish gas utility Gas Natural's Mexican subsidiary, Gas Natural Mexico, is planning to invest $70 million in a bid to attract more customers.
Gas Natural Mexico is targeting a client base of 80,000 by the end of 2008. The firm's clients totaled 45,000 at the end of 2007. It reportedly registered revenue of $100 million for 2007 of which profits constituted approximately $8-10 million.
Gas Natural is seeking to become Mexico's largest private energy distributor and is reportedly the second largest producer of electricity in the country behind Spanish electricity utility Iberdrola.
The Spanish gas utility is building the necessary distribution infrastructure and gas-fired combined-cycle generating plants to drive its growth in the Mexican market.
Source: Datamonitor
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