CAF to Prepare Residential Natgas Connections Tender

The Andean Development Corporation (CAF) signed an agreement Tuesday with Bolivia's mining and hydrocarbons ministry to act as the investment bank for a contract to make 250,000 natural gas residential connections over the next five years, the CAF said in a statement Wednesday.

Investment in the project is estimated at US$300mn. The connections are the second phase of a program to increase commercial and domestic consumption of Bolivia's huge natural gas reserves. State oil company YPFB implemented the first phase, which made 19,000 residential connections.

The CAF will advise and structure the mechanism for offering the contract, which is scheduled to be awarded in the fourth quarter 2003.

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