Association forecasts dip in investment next year

Mexico's electric power association AMEE expects foreign investment in the country's power sector to drop next year, considering only three major plants will start operations in 2004 compared to seven last year, El Financiero reported. "The economy isn't helping much and, besides, there is a level of disinterest in projects being awarded right now," association president Eduardo Andrade was quoted as saying. Uncertainty over passage of President Vicente Fox's proposed energy reforms is dissuading some companies from investing, while bidding delays in efforts like the Tamazunchale thermoelectric project are pushing projects back, the paper said. Mexico's federal energy company CFE oversaw the launch of 5,000MW worth of plant capacity this year, representing 12.5% of its installed capacity. "It was a good year and will be hard to match," Andrade said.