Gas Natural Mexico

active

Gas Natural Mexico was awarded a concession to distribute gas in Monterrey in Apr. 1998. It also obtained two other distribution concessions: one for Bajio in Jan. 1999 and another for Bajio Norte in Jan. 2000. The main sponsor was Repsol. The company committed to invest US$184.1 million in its Monterrey's concession area, US$ 27.1 million in Bajio and US$ 34.6 million in Bajio Norte to develop and expand the distribution network during the first five years of each concession contract. The consortium commited to achieve a coverage of 685,151 customers by the fifth year (Bajio - 72,384 users; Bajio Norte - 55,715 users; Monterrey - 557,052 users). The company funded its investment with internal funds. In 2003 the company committed to invest US$600 million by 2007 to expand distribution capacity. The company will invest US$600 million by 2007, or roughly US$120 million each year from 2003 until 2007.