The Argentine company Capex has signed a contract with US engineers Black & Veatch for the conversion of its Agua del Cajon power plant into a combined cycle facility, Dow Jones reports.
Capex will invest $115 million in the project, which involves increasing the output of the plant from 286 MW to 656 MW. The investment will be financed with credit from a banking syndicate led by Banco Supervielle Societe General.
Separately, Capex has also acquired a gas exploration company called Gassur from the power generation company Central Puerto for $38 million.