President Piñera has announced intentions from the Chilean Government to sell their 40% share within the electric company Edelnor to be able to invest in post-earthquake reconstruction.
Edelnor specializes within the production, transportation, distribution and way to obtain electric energy; the purchase, sale and transportation of liquid, solid or gaseous fuels; providing engineering and management consulting services; and also the maintenance and repair of electric systems.
Integral towards the generation of electricity in Chile, it is responsible for 49% of the power production of the Sistema Interconectado del Norte Grande (Interconnected System of Norte Grande) an alternating current power grid serving the Norte Grande zone of Chile.
Although Piñera has emphasized that the government will neither sell Codelco (the National Corporation of Copper)– the government body which owns the 40% share in Edelnor– nor Enap (another nationally owned energy company), he has nonetheless suffered severe criticism from the nationally owned companies because of his proposals.
The federation of trade unions of professionals and supervisors of Codelco (FESUC) condemns the proposed privatization, warning that it could give rise to rising energy costs and also the loss of national energy independence.
European energy group GDF Suez controls a 52% stake in Edelnor, while minority shareholders support the remainder. One of the group's subsidiaries, Electroandina, supplies power towards the Codelco Norte Division through a 15-year contract.
There have been concerns at Codelco that any sale of its share in Edelnor could raise power prices and increase the company's operational costs.
The company denies rumors of your sale.
The decision of any asset sale is created from the company's board of directors, taking into account the interests of the company, a Codelco spokesperson told BNamericas. The board makes the decisions, not the president of the country.
The government, meanwhile, has said that Codelco will remain 100% public.
Editor Notes:
Edelnor International Inc.
Edelnor International Inc. is really a subsidiary formed as a limited liability partnership through a public deed dated March 11, 2002.
Company's name Edelnor International Inc.
Type of Company:
Limited liability partnership
Line of Business
The Company is eligible to and it has the authority to undertake any business not forbidden by Cayman Island laws or any amendment to existing laws or new enacted laws.
Mr. Manlio Alessi
Mr. Henk Bataille
Mr. Juan ClaverÃa Aliste
Ownership interest
Edelnor S.A. 99%
Subsidiary Enerpac Ltda.
Enerpac is really a subsidiary incorporated on August 25, 1995 and its profession will be the production, transmission and distribution of electric energy.
Company's name Enerpac Ltda.
Capital ThUS$ 37,201
Type of Company:
Limited Liability Partnership
Line of Business
Production, transportation, distribution and way to obtain electric energy, purchase, sale and transportation of all types of fuels, either liquid, solid or gaseous.
The Company also offers engineering and management consulting services; and maintenance and repair services for electric systems.
General Manager
Juan ClaverÃa Aliste
Taxpayer I.D. 9.433.303-2
Ownership interest
Edelnor S.A. 99%
Net income
ThUS$ 3,665
Gasoducto Nor Andino S.A.
Gasoducto del Norte Grande Norgas Chile y CompañÃa Ltda. was incorporated on March 4, 1997. Subsequently, on November 12, 1997, the Company was transformed into a privately-held shareholders' company and changed its name to Gasoducto Nor Andino S.A.
Company's name
Gasoducto Nor Andino S.A.
Taxpayer ID:
78.974.730-K
Paid-in capital
US$ 79,741,646.98
Type of Company:
Privately-held shareholders' company
Line of Business
Gas pipeline building and operation.
General Manager
Gabriel Marcuz
Taxpayer I.D. 21.273.633-3
Regular directors of Gasoducto Nor Andino S.A.
Jan Flanchet
Taxpayer ID 14.744.021-9
Taxpayer ID 48.115.075-2
Alexandre Keisser
Taxpayer ID 22.062.589-3
Manlio Alessi
Taxpayer ID 14.746.419-3
Manuel Colcombet
Taxpayer ID 21.516.443-8
Juan ClaverÃa
Taxpayer ID 9.433.303-2
Ricardo Campano
Taxpayer ID 6.514.836-6
Direct ownership ENERPAC Ltda. 21.085% (Participation by Edelnor in Enerpac 99%, indirect participation in GNA 20.874%.)
Gasoducto Nor Andino Argentina S.A.
Date of incorporation
Date of registration with the Trade Registry of the original bylaws December 1, 1997.
Company's name
Gasoducto Nor Andino Argentina S.A.
Paid-in capital
Nominal capital of 6,565,300 shares with par value Ch$1 each, equal to US$1 each.
Type of Company:
Shareholders' company
Line of Business
Construction, design, assembly and operation of gas, oil as well as other pipelines in Argentina and of labor and engineering and services and pipeline-related equipment.
General Manager
Gabriel Marcuz
Current Board of Directors was appointed at the meeting of March 28, 2007:
Jan Flachet
Vice President
Conrado Bianchi
Regular Directors
Manuel Colcombet
Dante Dell’Elce
Manlio Alessi
Bernardo Andrews
Ricardo Campano
Alternate directors
Horacio Guadagni
Diego Suarez
Patrick Obyn
Cesar Ortiz Sotelo
Henri Meyers
Juan ClaverÃa
Direct ownership ENERPAC Ltda. 21.085% (Participation by Edelnor in Enerpac 99%, indirect participation in GNA 20.874%.)
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