Brazil’s Eletrobrí¡s to Invest at Least US$ 16 Billion in 4 Years

Brazil's Eletrobrás Brazil's state-owned energy company, Eletrobrás may review up the volume of investment of 30 billion Brazilian reais (US$ 16.3 billion) forecasted for the coming four years. Demand might require extra investment though.

"Our objective is still to invest 30 billion reais over the next four years, but we are making pressure to increase this volume, which may occur as a result of approval of the budget for 2010," said the president of the company, José Muniz Lopez, on participating in the Energy Summit.

Lopez said that the need to increase the volume of private funds forecasted was evident after an evaluation of the projects. "On evaluating our projects we noticed that we need a greater ceiling than the one we had been working in the PAI (Annual Investment Plan)," he said.

The Eletrobrás president also said that the company already has money in the till to develop the projects and engagements taken on for the coming four years, and does not discard getting market financing if necessary.

"If more engagements arise we head onto the market. It is all a question of opportunity. But today we do not need funds, as we have our own fund to finance our companies."

Lopez added that the company continues requesting from the government of Brazil the same treatment as that granted to Petrobras, which was removed from the primary surplus calculation, increasing the organization's investment capacity.

"We could invest more in projects of interest to Brazil and are limited due to the primary surplus. In our opinion, it would be much better for Brazil if we were outside the primary surplus calculation," he said.



  • Show Comments (0)

Your email address will not be published. Required fields are marked *

comment *

  • name *

  • email *

  • website *

This site uses Akismet to reduce spam. Learn how your comment data is processed.


You May Also Like

It’s Boom Time for Construction in Brazil and the World Is Chipping In

Brazil’s construction industry is developing at full steam and, in the works being launched ...

In Brazil, Buggies Never Go Out of Style

The buggies, those little hoodless cars with fiberglass bodies and large back wheels, have ...

The Ritual Sacrifice of Brazilian President Dilma Rousseff

Brazilian president Dilma Rousseff was sacrificed as a scapegoat for sins and shortcomings widely ...

Brazil Lula’s Brother: ‘Dad Would Pull His Ear for Lying’

Brazil’s orthodox Finance Minister Antonio Palocci was linked to the corruption scandal of the ...

Brazil Industry and Services Shrink in First Quarter

Brazil’s Gross Domestic Product (GDP) – the sum of all goods and services produced ...

The Transfiguration of Trash Pickers in Brazil and Latin America

In Mexico they call them pepenadores. In Argentina they are known as  cartoneros. Brazilians ...

On Advice of Counsel

1. President Lula should legalize all immigrants living in Brazil. 2. Should assist Brazilians ...

Brazil’s Unemployment Rate Rises to 9.6%

Brazilian Latin American markets advanced, with Mexican shares posting some of the region’s biggest ...

Brazil’s Ex-Chief of Staff Uses Delay Tactics to Slow Expulsion from Congress

Next Wednesday, November 30, Brazil’s Federal Supreme Court (STF) Justice Sepúlveda Pertence is expected ...

Tomorrow, Deadline for Foreigners Interested in Brazilian College Scholarships

Foreign students interested in attending Brazilian universities have until tomorrow, July 12, to apply ...