A. Stratus signs La Creciente exploration contractColombian company Stratus Oil ＆ Gas has

A. Stratus signs La Creciente exploration contract

Colombian company Stratus Oil ＆ Gas has signed an exploration and production contract with Colombia's hydrocarbons regulator ANH for the La Creciente block in the north of the country, Canadian company Pacific Stratus said in a statement Tuesday. Stratus Oil ＆ Gas is a wholly owned subsidiary of Gran Colombia Oil ＆ Gas, which Pacific Stratus Ventures (TSXV: PVL. H) is in the process of acquiring. La Creciente, formerly known as Guepaje Sur, is in Sucre department, and covers 40,764 acres in San Jorge basin. The Guepaje and Ayombe gas fields are close by, so if La Creciente reaches production it will need only a 2km auxiliary pipeline to link into existing transport infrastructure, the statement said.

B. Cartellone entering contract mining market

Argentine engineering and construction company Jos6 Cartellone Construcciones Civiles (JCCC) is entering the contract mining market, commercial representative Mariano Aranibar told BNamerieas. "We've been working on mining projects for about the last 10 years and we've had operating experience at one mine, moving around 230,000t/y of mineral," he said. The company has experience in earth moving as well as tunneling, and would be looking to work in either open-pit or underground situations, he added. "We have the machinery and qualified and experienced people who have worked in mining operations before in Argentina and Chile," he said.

C. Belgo considers investing US $ 606nm over 4 years

Brazilian long steelmaker Belgo-Mineira is considering a 1.8 bn-real (US $ 606mn) investment plan for the 2004--2007 period, mostly to improve and increase output capacity, a company spokesperson confirmed to BNamericas. The company is investing 480mn reais this year, of which 200mn reais have already been disbursed to double output capacity at its Piracicaba steel mill in Santo Paulo state to 1Mt/y, modernize its Vit6ria mill in Espirito Santo state and improve logistics. Investments for 2005 and 2006 are estimated at 470mn reais a year, with the remaining 430mn reais scheduled for 2007. The investment plan still has to be approved by the company board, the spokesman added.

D. IBM pushes for banking in retail sector

IBM is keeping a close eye on the region's retail sector due to the advances it has made in the last few years, regional financial services vice-president Ricardo Pelegrini told BNamericas. The retail chains have very strong assets, such as large customer databases and market intelligence, and they could use those assets to become strong competition for traditional banks, the executive said. "The store chain should look to this more as a business in and of itself, not just as a tag on its retail business," he said. IBM's retail area is following this industry in countries within the region, as it complements the company's financial services area to be able to improve the service offered to customers, he added.

E. Comsa wins 1st EFE 2003---2005 investment plan concession

Chile's state rail company EFE has awarded Spain's Comsa group the first concession contract that falls under its US $ 998mn investment plan for 2003--2005, EFE president Luis Ajenjo announced during a press conference Tuesday. The 16-year contract entails rehabilitating and maintaining the rail network's northern zone (Zona Norte). This zone covers the Alameda-Limache, Limache-Puerto Valparaiso, Alameda-Talagante, Talagante-Barrancas and Paine-Talagante stretches for a total of 376km. Comsa submitted a bid of US $ 32mri that corresponds to the rehabilitation works, which had a reference price of US $ 38mn. The other bidders were OHL, Azvi and Icil-icafal.

The company focuses its business on natural gas and oil.