Genpact Acquires GE's Guatemala Delivery Unit Center

Genpact acquired a back-office services delivery center in Guatemala City from GE Money, a division of General Electric, for an undisclosed amount. This is Genpact's first facility in Guatemala and will extend the company's presence in Latin America beyond Mexico. The newly acquired facility will also enhance the company’s ability to provide business process services in English and Spanish.

Genpact will offer services to GE through this facility. Initially, the new center will house 700 professionals; this number can be extended to about 2,000. GE Money's Retail Consumer Finance division and BAC/Credomatic will continue to operate from a section of the facility.

Genpact is a leading Indian BPO firm. It has service delivery centers in India, China, Hungary, Mexico, the Philippines, the Netherlands, Romania, Spain, and the US.

Publication: Evalueserve-EmergingMarketsNOW
Provider: Evalueserve India Ltd.
Date: August 19, 2008


Two Guatemalan companies invest in call centers

Guatemalan Vertical (real estate division of Grupo Progreso) and Desarrollos Inmobiliarios Concepcion have recently joined into Grupo Campus Corporativo to invest in call centers. The most important project developed by Campus Corporativo was a call center to General Electric (GE) Money and its partner Banco de America Central (BAC Credomatic), which has more than 10.000 square meters. Investments amounted to USD 11 million.

Currently, Campus Corporativo negotiates with a number of potential international clients that plan to have call centers operations in Guatemala. According to the investment promoting agency of Guatemala Invest in Guatemala, in four years the sector has provided more than 5.000 job positions and invested nearly USD 50 million. Campus Corporativo plans to extend its services to the rest of Central America.

Publication: BIS - Business Information Systems
Provider: Business Information Systems
Date: August 13, 2008


IFC invests USD 70 mln in Guatemala Banco G&T Continental

The International Finance Corporation (IFC), arm of the World Bank, announced an equity investment in Banco G&T Continental, a key player in Guatemala financial sector. The bank has operations in Costa Rica, El Salvador, and Panama. Investments of IFC amount to USD 70 million. With the investment IFC will expand the bank services to small and medium enterprises in Central America.

Also, IFC plans to invest USD 100-150 million in Guatemala in infrastructure (energy), agribusiness and financial system. Banco G&T Continental Banco G&T is Guatemala second-largest banking institution with total assets of USD 2.88 billion as of October 31, 2007. The entity has 266 branches, mini-banks, and 1,100 ATMs in Guatemala.

Publication: BIS - Business Information Systems
Provider: Business Information Systems
Date: August 1, 2008


Pizza Hut opens new restaurant in Guatemala

Pizza Hut has recently invested USD 1.4 million in its 30th restaurants in Guatemala. The new restaurants has a capacity of 360 people and a car park with a capacity of 140 cars. Pizza Hut Guatemala plans to open units in Santa Elena Peten, Antigua Guatemala, Retalhuleu, Escuintla, Huhuetenango, Quetzaltenango and in Eskala Roosevelt by late 2008.

Publication: BIS - Business Information Systems
Provider: Business Information Systems
Date: August 1, 2008


Showcolate establishes foothold in Guatemalan market

Brazilian franchise Showcolate, which developed the fondue express concept, has opened its first kiosk in Guatemala two weeks ago. Showcolate franchise has been launched in Guatemala by Inversiones Morataya (Inmosa), which plans to open other two kiosks in the country by 2009 and to expand business to El Salvador and Costa Rica. The production of cocoa of Guatemala reaches 1.900 metric tons. Exports reached USD 30.8 million in 2007 and USD 5.8 million by May 2008.

Publication: BIS - Business Information Systems
Provider: Business Information Systems
Date: July 28, 2008

Enel constructs new hydroelectric power facility in Guatemala

Guatemalan subsidiary of Italian Enel has recently announced its plans to invest USD 200 million in the hydroelectric power project of Palo Viejo, in Quiche, which has a generation potential of 80 MV. Construction works are expected to start by late 2008. After the opening of the electric power sector in 1998, Enel has constructed the hydroelectric power facilities of San Isidro, Matanzas, Canada and Montecristo. Investments surpass USD 150 million.

Publication: BIS - Business Information Systems
Provider: Business Information Systems
Date: July 28, 2008


Japan donates USD 1 mln to Guatemala

The government of Japan through the Inter-American Development Bank has donated USD 1 million to Guatemala. Resources will be used to finance a feasibility study for the construction of a new stretch of Guatemala municipality transportation system.

Publication: BIS - Business Information Systems
Provider: Business Information Systems
Date: July 22, 2008


Grupo Ecomina in wind power generation

Guatemalan Grupo Ecomina announced that it will invest in a wind power generating project that would add 62 MW to the national interconnected system. Thirty-five towers would be installed in Los Llanos and Santa Elena Barillas. Ecomina has already invested USD 1.8 million in pre-feasibility and feasibility studies. Ecomina estimates total investments of USD 55 million. BIS - Business Information Systems

Publication: BIS - Business Information Systems
Provider: Business Information Systems
Date: July 1, 2008


HudBay to acquire Skye, Fénix ferronickel project for US$429mn

Canadian miner HudBay Minerals (TSX: HBM) has agreed to buy compatriot Skye Resources (TSX: SKR) and its Guatemalan ferronickel project Fénix for approximately Cdn$434mn (US$429mn) in stock based on Tuesday's prices, both companies reported in a joint statement.

Under the deal, each Skye common share will be exchanged for 0.61 HudBay common shares, which represents about a 35% premium over Skye's 20 day volume weighted average and approximately a 17% premium over the company's closing price on June 20, the companies said.

After completion of the transaction, HudBay will have some 161mn common shares outstanding, of which current HudBay shareholders will own 79.7% and former Skye shareholders will own 20.3%, the statement said.

"This is a tremendous addition to HudBay's development pipeline and provides important diversification to the company's existing portfolio. Our balance sheet strength together with the continuing strong cash flows from our current operations place us in an excellent position to bring to production the Fénix project," HudBay CEO Allen Palmiere said.

"This agreement merges the world class ferronickel Fénix project with a company with the financial and technical capacity to move it forward rapidly," said Skye CEO Colin Benner.

In a private placement and as part of the agreement, HudBay will also acquire nearly 12.7mn Skye common shares at Cdn$7.51 each, for total gross proceeds to Skye of Cdn$95.2mn.

The transaction is subject to Skye obtaining required shareholder approval and is expected to close by late August.

Fénix holds 41.4Mt of proven and probable reserves grading 1.63% nickel, and is due to require a US$640mn startup capex and churn out 1.3Blb (590,000t) of nickel over a 30-year mine life using conventional smelting technology. Phase 2 of the project assumes that a new solid-fuel power plant will be in service by the end of the fifth year of production, with an additional estimated capital cost of US$344mn.

Publication: Business News Americas - English News
Provider: Business News Americas
Date: June 26, 2008


Taca Cargo to start Lima-Guatemala direct flights from July 15th

Taca airline will start direct cargo flights from Lima to Guatemala from July 15th, with three flights a week, the director of Taca Cargo, Víctor Mejía, reported Wednesday.

Flights will be available on Tuesday, Thursday and Saturday in both ways. Flights from Lima will take off at 10:30 hours (15:30 GMT) and land in Guatemala at 14:05 hours.

While, flights from Guatemala will take off at 15:00 hours and land in Lima at 20:35 hours.

In this way, Peruvian exporters will have a larger offer for their exports abroad, and the central american entrepreneurs will be benefited as well.

"For us, it is important to be able to provide an excellent service on aour flights".

Publication: Andina - English Newswire
Provider: Andina
Date: June 19, 2008


Colombian Isagen Interested in Guatemala Power Project

Colombian state-run electricity generating group Isagen is interested in participating in the tender for the construction of a power plant in Guatemala, the daily Portafolio said on March 10, 2008.

The tender will be organised by Guatemala’s national electrification institute INDE and is expected to take place by the end of the current year. The plant will be called Xalala and its construction has been postponed a number of times so far due to the opposition of Guatemalan environmentalists.

Xalala is expected to be the second largest power plant in Guatemala with an installed capacity of 180 MW and investments in it are seen standing at between $350 mln (226.33 mln euro) and $400 mln (258.67 mln euro).

Other companies, interested in participating in the tender, are U.S. AES and Spanish Union Fenosa, Iberdrola and Endesa.

Publication: Business Digest
Provider: AII Data Processing Ltd.
Date: March 11, 2008


Guatemala President Rules Out Nationalisation of Electricity Distribution Services

The President of Guatemala, Alvaro Colom, ruled out the nationalisation of electricity distribution services that have been in the hands of Spanish power utility Union Fenosa since 1998, Guatemalan media reported on March 6, 2008.

The statement was in response to the proposal of 23 Guatemalan MPs of the centre-left National Union for Hope (UNE) for reduction of the costs for electricity distribution, affecting 50 pct of the poor population of Guatemala.

Publication: Business Digest
Provider: AII Data Processing Ltd.
Date: March 7, 2008


Arrival of Grupo Fersan reactivates war of the sodas

After analyzing during three years the national market, Grupo Fersan of Mexico was decided to invest to US$7 million in a embotelladora plant in Escuintla, that will supply from Guatemala to Panama.

Arturo Roldan, manager of Fersan Central America, indicated that the Mexican producer was decided by Guatemala (also analyzed El Salvador) by its proximity with Mexico, which facilitates to transport some raw materials from that country. To count on skilled labor with experience in the industry of beverages and its sugar production.

Grupo Fersan is a small regional, original producer from the state of Puebla.

The strategy of Fersan remembers to the Peruvian Ajegroup and Big Cola, that arrived at the country in 2005 with a presentation of 3,3 liters and in a short term it was made as opposed to of a participation of market Coca-Cola, Pepsi and Super Cola.

The arrival of Fersan does not worry to Jose Raul Gonzalez Merlo, financial vice-president of Cabcorp. "Guatemalans have greater preference by Pepsi-Cola, that shows the 40 percent of the market", it affirms.

The 60 remaining percent disputes it: Coca-Cola, with a participation of market of the 30 percent; Salvavidas, with a 20 percent of participation with Super Cola; the Peruvian Ajegroup, with a 10 percent of the market with Big Cola and First; and the rest, Embotelladora San Bernardino, India Quiche' and private marks.

Although Roldan assures that it does not interest to him to enter a direct competition with the embotelladoras, already initiated a new war of prices when sending its presentation of 3,3 liters to the price more under the market (Q9.50), a Q2.50 below its rivals.

Publication: El Periódico (Guatemala)
Provider: El Periódico
Date: March 4, 2008

This translation has been prepared using machine translation software, which has been enhanced with a specialized dictionary.


Teco to bid on 200MW supply tender

Florida-based Teco Energy, which has operations in Guatemala, plans to participate in a bidding process to supply at least 200MW to Guatemalan distributors Deorsa and Deocsa. The distributors in November launched bidding for the contract, which entails building a coal-fired plant with 200MW minimum capacity. The winner of the 15-year contract would have to start supplying power in 2012. Teco would fund the project through non-recourse financing, Gillette said.

Offers are due April 17, with contract signing slated for May. Potential bidders must have built at least two thermoelectric plants, boast assets of least US$1bn and have a minimum B corporate rating on Fitchs scale, among other requirements. Spains Union Fenosa controls Deorsa and Deocsa, which serve more than 400,000 and 700,000 users respectively.

Publication: Euclid Infotech - Utilities News
Provider: Euclid Infotech
Date: February 7, 2008


Guatemalan Crude Oil Output Down 34 Pct Y/Y Jan-Oct 2007

The crude oil output of Guatemala decreased 34 pct year-on-year to 3.7 million barrels over the period January to October 2007, the daily Siglo XXI said on January 8, 2008.

The crude oil output of the Central American country has been constantly falling since 2002. However, the revenue from oil sales is not decreasing due to the growing international oil prices.

The Government of Guatemala is currently working on the exploration of new oil fields in the country. Such exploration is expected to start before the end of the current year. New oil fields have been recently discovered near the border with Belize.

According to a recent study of the French oil company Perenco, Guatemala has a potential to reach a crude oil output of 200,000 barrels per day (bpd).

Publication: Business Digest
Provider: AII Data Processing Ltd.
Date: January 9, 2008


Pronacom: US$340mn/y needed for infrastructure

Guatemala requires 2.6bn quetzales (US$340mn) in annual infrastructure investment to maintain current growth levels, newspaper Prensa Libre reported.

The estimate comes from the government's 2005-15 national competitiveness program (Pronacom), which projects investing at least US$700mn in the first two years of president-elect Álvaro Colom's term to continue with modernization works at the La Aurora international airport, expand highways, improve ports and other works.

The new administration - elected in September 2007 and to take office mid-January - will have to continue investing in infrastructure to reduce the gap between the country's rich and poor, Pronacrom representative Juan Carlos Paiz was quoted as saying.

One project Pronacrom considers essential is a metropolitan beltway to accommodate the 65,000 vehicles that enter the capital every day, according to the report. No investment figures were given.

The majority of Guatemala's roads are not paved, with 59% of the network being rural roads, of which only 42% are paved, the paper reported.

Pronacrom is a strategic plan created by Guatemala's prior administration to foster development of its tourist, export and energy sectors.

Publication: Business News Americas - English News
Provider: Business News Americas
Date: January 7, 2008

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