HOUSTON, March 1 /PRNewswire/ -- Globeleq, the emerging markets power
company, announced today that Umeme Ltd, jointly owned by Globeleq and Eskom
Enterprises, has begun operating the electricity distribution system in Uganda
under a concession agreement with the Government of Uganda.
Umeme will manage and operate the electricity distribution system in
Uganda for 20 years based on the concession agreements signed in May 2004.
The electricity distribution network will be leased from the Ugandan
Electricity Distribution Company Limited (UEDCL), an entity of the Government
of Uganda. Umeme will invest capital to improve the network infrastructure
and establish new connections. UEDCL will continue to run the rural
electrification schemes across the country.
Torbjorn Caesar, Executive Vice President of Globeleq for Africa, said:
"Our investment in power distribution in Uganda is a first for Globeleq and
reflects our commitment to the emerging markets. We are very excited about
helping to improve the safety and reliability of electricity delivery to the
people of Uganda."
Paul Mare, General Manager of Umeme, explained: "Over the past 10 months,
the Umeme management team has worked closely with UEDCL to understand the
business and identify areas to improve. We aim to be the leading electricity
distribution company in East Africa by 2010, providing safe, reliable electric
service to consumers in Uganda."
Umeme is 56% owned by Globeleq and 44% by Eskom Enterprises, the non-
regulated entity of the South African electricity utility. With investments
of more than US$500 million, Globeleq is the fastest growing operating power
company solely focused on the emerging markets of Africa, the Americas and
Asia. Globeleq is actively pursuing acquisitions, seeking to more than double
its operating capacity.
SOURCE Globeleq
 back to top
Related links:
http://www.globeleq.com
Photo Notes:
NewsCom:
http://www.newscom.com/cgi-bin/prnh/20040611/DAF004LOGO
PRN Photo Desk, photodesk@prnewswire.com
CONTACT:
Stephen Morisseau of Globeleq,
+1-713-355-3450, or cell, +1-713-870-7400, or
stephen.morisseau@globeleq.com
|
