Company News

Brookfield-backed NTS sees almost $240 mln in investments over five years

RIO DE JANEIRO, July 30 (Reuters) - Brazilian gas pipeline firm Nova Transportadora do Sudeste SA (NTS) is planning investments of almost 900 million reais ($237 million) over the next five years, the group’s chief executive, Wong Loon, said at an event in Rio de Janeiro on Tuesday.

In 2016, a group led by Canada’s Brookfield Asset Management Inc purchased 90% of NTS from Brazilian state-run oil firm Petroleo Brasileiro SA for $5.2 billion. The new investments will be geared principally toward eliminating bottlenecks and improving the pipelines’ measurement systems, Loon said.

($1 = 3.79 reais)

Reporting by Marta Nogueira; Writing by Gram Slattery; Editing by Sandra Maler