Alba in El Salvador: For Those Who Dont Want Soup... Two bowlfuls

The company owned by Venezuela and a group of municipalities from the ruling party continue to diversify; now they sell water and finance housing projects.

Monday, February 24, 2014

The Alba business conglomerate announced through José Luis Merino, Alba Petróleos advisor and coordinator of the ruling FMLN party, that it is to add a new business to those already it established in El Salvador since it came into the country in 2006.

"Albagua", will focus on the sale of bottled water at its own brand of gas stations. They are currently working on signing an agreement with a small company that has already been set up and who will manufacture the product.

"In general way he referred to these projects having investments of around $1 to $1.5 billion, but when asked specifically about the amount of finance for the water project, he said he did not remember."

"The National Association of Private Enterprise (ANEP ) has asked the country's competition regulator to check Alba businesses and determine whether they are undertaking anticompetitive practices."



More on this topic

Possible State Run Oil Company in El Salvador

October 2013

The strategies for El Salvador to enter into Petrocaribe include the creation of a state run company for importing and marketing petroleum products.

Elmundo.com.sv reports that "José Luis Merino , FMLN leader and senior advisor to Alba Petroleos in El Salvador, says the party does not have an agreement model to join Petrocaribe, in the case that they win the presidential election next year. "

No Resonse to Complaints Against Alba Petróleos

July 2013

The Superintendency of Competition in El Salvador has not yet ruled on the complaints raised by the National Association of Private Enterprise for alleged anticompetitive practices.

Five months after the National Association of Private Enterprise (ANEP by its initials in Spanish) requested an investigation, it is "still awaiting a response from the Superintendency of Competition and is urging the Government of the Republic to enforce the law on equal terms and force the fulfilment of requirements under which ALBA businesses operate in El Salvador", published Elsalvador.com.

El Salvador: Negotiations in Rice Market

October 2012

Alba Alimentos may buy 70% of the shares belonging to Precosal who recently entered the Salvadoran rice market.

Elsalvador.com reports that the company, owned by members of the FMLN, may make a request for the award of 20% of the market, which is viewed by industrialists as breaking the rules of the game which have prevailed in the sector.

El Salvador: Between Chile and Venezuela

November 2009

It seems that not everyone in Funes' Government shares his objective of making investors feel secure.

Referencing policies implemented by Chilean governments, Rafael Castellanos wrote in Laprensagrafica.com: " 1) It is necessary to enlarge the social security network and 2) To reduce poverty we need growth, and to grow we need to attract foreign investment, and for this we need to make investors feel safe, we need them to be sure that the Government won't change the rules at any moment, in the long term required for obtaining returns over investments. Those are two key pillars for Chile's success".

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