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Brazil's Cemig sees investment at 4.98 bln reais through 2017
May 27, 2013 / 9:25 PM / 5 years ago

Brazil's Cemig sees investment at 4.98 bln reais through 2017

SAO PAULO, May 27 (Reuters) - Cia Energética de Minas Gerais SA, Brazil’s third-largest power utility, plans to spend 4.98 billion reais ($2.4 billion) for investment in its distribution unit between 2013 and 2017, according to a securities filing on Monday.

The Belo Horizonte, Brazil-based company expects the same unit to post earnings before interest, tax, depreciation and amortization between 1.85 billion reais and 2.14 billion reais this year. EBITDA, as the indicator is known, is a widely followed gauge of operational profitability.

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