May 10, 2016 / 1:22 PM / 2 years ago

Enersis Chile projects $1.6 bln investment over four years -paper

SANTIAGO, May 10 (Reuters) - Electricity provider Enersis Chile projected investments of $1.6 billion over the next four years, mainly in generation activities, local newspaper Diario Financiero reported on Tuesday.

“We are going to invest an average of $400 million per year over the next four years,” Chief Financial Officer Raffaele Grandi said in a conference with analysts according to the paper.

Last November, before the beginning of a corporate reorganization process, a previous iteration of Enersis had announced $1.7 billion of investment in Chile.

Enersis Chile is the result of a reorganization of Italian energy producer Enel’s Latin American assets, which has included the division and fusion of companies controlled by the Italian group.

The plan seeks to consolidate Enel’s Chilean assets into Enersis Chile and the company’s assets in other Latin American countries into Enersis Americas. (Reporting by Gram Slattery; Editing by Meredith Mazzilli)

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