CMS Energy to invest $1b in Asia

CMS Energy to invest $1b in Asia

SINGAPORE (Reuter): CMS Energy Corporation plans to invest over US$1 billion or a third of its capital expenses in the next five years in Asia, top company officials said yesterday.

"Looking over the next five years, we would be in the position to invest upwards of a billion in S.E. Asia. This is additional investments to our existing ones," Victor Fryling, president of CMS Energy told Reuters at an interview.

Fryling is in Singapore for the official opening of CMS regional office for Asian business development.

"By the end of that period, Asia may represent about 20 percent of the total size of our company," Fryling said.

Fryline said that over the next five years the company plans to have stakes in various energy operations in the region, encompassing electric power generation, oil and gas exploration and production, natural gas pipelines and storage, electricity marketing and both electric and natural gas utility operations.

CMS Energy currently has independent power generation as well as oil and gas exploration and production activities in India, the Philippines, Australia, New Zealand and Papua New Guinea. According to Fryling, the company is also pursuing international natural gas pipeline development opportunities in Southeast Asia.

"The countries we are focusing at this time to expand our business include Australia, India, the Philippines, Thailand, Singapore and Indonesia," David Weaver, vice president and managing director of CMS Energy Asia Pe Ltd said.

"It is our goal to seek opportunities where our significant experience and skills bring value, to develop strategic partners to pursue investment opportunities and maximize our strength as a total energy infrastructure company," Weaver added.

CMS Energy Corporation has its world headquarters in Michigan, the United States, and is publicly traded on the New York Stock Exchange.