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Shareholders agreement creates company that will build the Serra do Facão hydroelectric plant
Rio de Janeiro – Jan 4, 2007 -- A shareholders agreement was concluded by the investors in the Serra do Facão Hydroelectric Plant, which will be built in the São Marcos River, between the states of Goiás and Minas Gerais, in Brazil’s central region.
The agreement formalized the incorporation of Romania, a Society with Specific Purpose (SPE), constituted by the investors Furnas Centrais Elétricas (49.5%), Alcoa (35%), the Poços de Caldas Municipal Electricity Department (10%) and Camargo Correa (5.5%).
The SPE will be responsible for managing the construction of the plant and its transmission system, and for the implementation of all socio-environmental programs pertaining to the enterprise.
With generation planned to start in 2010, Serra do Facão will produce 210 MW of installed capacity and constitutes one of the main infrastructure projects required for Brazil’s economic growth.
Construction of the enterprise, budgeted at R$800 million, will start in the beginning of 2007, with installation of the construction site in the municipalities of Catalão and Davinópolis, in Goiás.
Committed to a harmonious relationship with the local communities, the Serra do Facão Hydroelectric Power Plant investors will adopt a series of initiatives towards the region’s sustainable development.
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