Colombia Adds To Privatization List

Colombia has added power generator Corporación Eléctrica de la Costa Atlantica (Corelca) and minority stakes in two other generators to its privatization list. The funds raised from the sale of 99% of Barranquilla-based Corelca, slated to be sold at auction next June, will be used to finance infrastructure projects on the Caribbean coast, according to a speech by President Álvaro Uribe earlier in the week. The minority stakes to be sold are in Electrificadora del Quindio (EDEQ), and Central Hidroeléctrica de Caldas (CHEC). Colombia recently announced it is to package shares from the best of the state-run regional electricity companies into a holding company that will be partially privatized next year. President Álvaro Uribe, who was inaugurated for his second term in office on Monday, has pursued a vigorous program of privatization during his time as president.