Gas Natural Fenosa to invest 1,100 million euros and create 800 jobs in Catalonia between 2011 and 2014

The Barcelona-based energy multinational and the Catalan Government have signed a cooperative agreement. The Catalan President Artur Mas emphasised that the Catalan multinational “is rising to what the country needs” in the current economic context.

CNA / Josep Molina

September 12, 2011 11:36 PM

Barcelona (ACN).- The Catalan Government and the energy company Gas Natural Fenosa have signed a cooperative agreement this Monday by which the Barcelona-based multinational commits to invest 1,088 million euros and to create around 800 new jobs between 2011 and 2014. Gas Natural Fenosa’s investment will generate another 440 million euros of indirect investments in associated areas. From the 1,088 million euros, 557.5 million will go towards infrastructure investments and 530.4 million to spending associated to the exploitation and maintenance of the current assets in Catalonia. The President of the Catalan Government, Artur Mas, emphasised the “deep and total commitment” of the Catalan multinational in these difficult economic times. Mas added that, with this investment, the company is proving that it “is rising to what the country needs”. The President of Gas Natural Fenosa, Salvador Gabarró, said that now is the time “to push forward and Gas Natural Fenosal will do it”.

Gas Natural Fenosa will invest, from 2011 to 2014, 1,088 million euros in Catalonia in works on the gas distribution network, the electricity distribution network, electricity production, energy solutions and services, retail sales and other activities related with research, development and innovation.

Salvador Gabarró explained that after these investments the company wants to go from 2.1 million of clients in Catalonia to 2.3 million, from 330 municipalities connected to the gas distribution network to 361, and from 16,000 kilometres of gas pipelines to 1,100 kilometres more.

Gas Natural calculates that its 1,088 million investments will generate other 440 million of indirect investment related to the projects. In addition, around 800 jobs will be created.

As well as formally signing the agreement, the Catalan President visited the Gas Natural Fenosa’s headquarters, based in Barcelona and located in a building designed by the Catalan architect Enric Miralles and his partner Benedetta Tagliabue. Artur Mas visited the control room of the gas distribution network for the entire Iberian Peninsula and Italy. Mas asked about coordination mechanisms in case of an emergency and Gas Natural Fenosa staff explained him the emergency plans and the coordination systems with local authorities.