GE could fund turnaround of Puerto Rico utility, documents show

April 1, 2015 6:29 AM

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NEW YORK, April 1 (Reuters) - General Electric would commit to financing a new natural gas plant in Puerto Rico under a debt restructuring plan proposed by creditors of the island's struggling power utility, according to plan documents obtained by Reuters.

The plan, which also includes creation of more than 3,400 new jobs, comes during ongoing negotiations between the Puerto Rico Electric Power Authority (PREPA) and its creditors to restructure the utility's $9 billion in debt.

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