Tender date set for Belo Monte Dam

19 March 2010

The tender deadline for the concession contract regarding construction and operation of Brazil's Belo Monte dam has been confirmed as 20 April 2010 by the Brazilian Mines and Energy Ministry.

The 30 year concession carries the proviso that the dam must supply electricity in 2015 according to a Ministry spokesperson. Construction of the 1.1 GW hydro-electric dam is expected to cost US$ 11.3 billion, a figure that includes various environmental measures to limit the dam's impact on the Xingu River area in the Amazon rainforest.

As part of the dam bidding conditions, the Ministry is expected to set a BRL 83 (US$ 46.2) per MWh ceiling price, up from BRL 68 (US$ 37.8) per MWh in recognition of the additional environmental costs.

Thus far, just two consortia have expressed interest in the project. The Camargo Correa and Odebrecht joint venture announced last month now faces a rival bid from a consortium made up of Vale SA, Andrade Gutierrez Participacoes SA, Neoenergia Investimentos SA and Votorantim Energia.

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