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Engevix in talks to sell Brazil's Sao Roque hydroelectric dam

 


SAO PAULO
Petroleumworld.com 02 03 2017

Brazilian power and engineering firm Engevix on Thursday said it is in advanced talks to sell the 135-megawatt Sao Roque hydroelectric dam, as the troubled company continues to sell assets to balance its finances.

The Sao Roque dam, located in the southern Santa Catarina state, is under construction, but works stopped last March due to lack of funding. The project was expected to cost 700 million reais ($225 million). Engevix declined to name potential buyers or the amount it expects to fetch with the sale.

($1 = 3.11 Brazilian reais)



Reporting by Luciano Costa; Writing by Marcelo Teixeira; Editing by Chizu Nomiyama from Reuters

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