GDF Suez,Brazil Partners Get BRL7.2 Billion Loan From BNDES,Other Bks
18 Febbraio 2009 - 9:23PM
Dow Jones News
International energy company GDF Suez (GSZ.FR) and its Brazilian
partners were approved for a loan of 7.2 billion reals ($3.09
billion) for their new Amazon hydroelectric dam, Brazil's
government-owned BNDES bank said in a press release.
Brazil's National Development Bank, known as BNDES, approved the
loan for construction of the Jirau power plant, a massive
3,300-megawatt hydroelectric dam located on the Madeira River in
Rondonia state.
The Jirau project is one of Brazil's largest ongoing power
projects. It is expected to be operational by 2012 and is part of
the government's Accelerated Growth Program to create
infrastructure-related jobs, especially in the underdeveloped
northern half of the country.
Part of the BRL7.2 billion will come directly from BNDES, while
around BRL3.6 billion will come from BNDES and partners, including
federally owned Banco do Brasil (BBAS3.BR), Unibanco (UBB) and
Bradesco (BBD), among others. BNDES retains 68.5% of that half of
the loan.
GDF Suez won the rights to build and operate the Jirau power
plant together with its construction partner, Camargo Correa,
Eletrosul and Companhia Hidro Eletrica do Sao Francisco, better
known as Chesf.
The dam is located around 127 kilometers from Porto Velho, the
capital city of Rondonia in Amazon's western corner.
-By Kenneth Rapoza, Dow Jones Newswires, 5511-8812-5961,
kenneth.rapoza@dowjones.com