D.R.
The SONELGAZ (Gaz and electricity group) , while facing a shortage of power resources, is to invest 3.3 Bln/dlrs by 2010, I,e the same level of investment made in 2009 (240mln/da) indicated general manager Boutarfa Nourredine. This level of investment, “witness the pursue of efforts in concretizing the development program and the supply of power and gas production in absence of inner resources, due to tariffs freezing” of electricity,”..The financial cover of this investment program which is that of 70% (166.8mln/da) by banks loans, to 20.7% (50 Mln da) by the State and 9% by the clients. Asked about last measures taken by the State so to clear the Group, the Sonelgaz leader has answered “They use to cover only the financing of some projects of the holding for the year 2010 but they won’ resolve it’s financing problem” in mid and long term period. Last may, the State has taken a series of measures dealing with the clearing of Sonelgaz so to conduct in a long run its investment program. In accordance with these measures, the public treasury engage to take into account the Banking debt t of sonelgaz (200Bln/dlrs) up to March 2010 whil assuring investments financing over 20 years according to figures discoled by the company leader. In relation with figures shown by M. Bouterfa, the level of debts hold by the clients of electricity company,remain high to 43Bln/dlrs up to June 2010,. Asked over last measure of the Council of Minister concerning an acquired State guarantee to bank credits allowed to strategic public enterprises, M. Boutarfa has u nderlined that these banking financing remain “weighing credit over the financial situation of the Group.
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- Sonelgaz
