Iberdrola And Endesa Sign An Agreement Protocol For The Joint Construction Of A Regasification Plant In Castellon.Business Editors NEW YORK--(BUSINESS WIRE)--Oct. 23, 2001 Iberdrola and Endesa (NYSE NYSE See: New York Stock Exchange :ELE ELE equine leukoencephalomalacia. ) signed yesterday an agreement protocol so that Endesa will become partner in the development and construction of the regasification plant in Castellon. Both companies' CEOs, Ignacio Sanchez Galan and Rafael Miranda, agreed to set up a company which will develop and construct the project. The shareholders' agreement shareholders' agreement n. an employment agreement among the shareholders of a small corporation permitting a shareholder to take a management position with the corporation without any claim of conflict of interest or self-dealing against the shareholder/manager. will be materialised within 90 days from the signing of the above agreement protocol. Endesa and Iberdrola intend to establish long term contracts for the use of the plant's regasification capacity and, in proportion with the contracts, establish their shareholding in the company's capital. It is also envisaged that new partners may join the project as long as they provide added value Added value in financial analysis of shares is to be distinguished from value added. Used as a measure of shareholder value, calculated using the formula:
The regasification plant in Castellon contemplates an approximate investment of Euro 372 million and its start-up is expected for the year 2006. The project has been conceived for an equivalent output capacity of 6 bcma, expandable to 9 bcma. The plant's storage capacity will be 300,000 m3 (in two 150,000 m3 tanks) expandable by successive steps of 150,000 m3, as well as a capacity for mooring MOORING, mar. law. The act of arriving of a ship or vessel at a particular port, and there being anchored or otherwise fastened to the shore. 2. Policies of insurance frequently contain a provision that the ship is insured from one place to another, "and till and unloading of methane ships of up to 150,000 m3. It is intended that this plant will become integrated with Iberdrola's generation projects in the area, such as the integration of the seawater seawater Water that makes up the oceans and seas. Seawater is a complex mixture of 96.5% water, 2.5% salts, and small amounts of other substances. Much of the world's magnesium is recovered from seawater, as are large quantities of bromine. flows for the cooling of the generation plants with the vaporisation circuit of the regasification plants and the connection of the gas pipeline to the generation plants. "For Endesa this is one step beyond in its strategy initiated with the regasification plant in Galicia and the MEGAZ project (Algeria-Spain pipeline), which will permit to ensure the reliability of the supply of both its CCGTs and its eligible gas customers. We do not discard the promotion of other projects in the gas business", stated Manuel Moran Manuel Moran (October 27, 1893 - August 23, 1961) was the Chief Justice of the Philippines from July 9, 1945 until March 20, 1951. After leaving office, he became the first Philippine Ambassador to Spain and the Holy See. , Endesa's General Manager for Generation. On the other hand, Conrado Navarro, Iberdrola's manager for Gas, stated that "Endesa's joining the Castellon project as both partner and user strengthens and optimises its development." |
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