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China's ZEPC in talks to buy stake in Brazil's Belo Monte dam
April 7, 2017 / 5:54 PM / 8 months ago

China's ZEPC in talks to buy stake in Brazil's Belo Monte dam

SAO PAULO, April 7 (Reuters) - China’s Zhejiang Electric Power Construction Co Ltd (ZEPC) is in talks to buy a stake in Brazil’s massive Belo Monte hydroelectric dam, two sources familiar with the negotiations told Reuters.

The 11,233-megawatt dam on a major tributary to the Amazon River is owned by a consortium including utilities Eletrobras , Neoenergia SA, Cemig and Light SA , mining company Vale SA and pension funds Petros and Funcef. Total investment in the plant is expected to reach 35 billion reais ($11 billion) by the time it is finished in 2019. ($1 = 3.13 reais) (Reporting by Luciano Costa; Writing by Marcelo Teixeira; Editing by Jonathan Oatis)

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