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Invest in Brazil dam project 'for returns over ten per cent'

Date added: 21st May, 2010 at 10:17
(view all articles from May, 2010)

Categories: Economy

Those who choose to buy assets in the hydroelectric dam currently being constructed in the Amazon rainforest can expect returns of more than ten per cent, according to market information source Invest in Brazil.

Latin America's largest electric power company, state-owned Electrobras, is building the project alongside several construction firms. It is estimated by officials that it will cost around 19 billion reais (£6.99 billion) to create the 11,000 megawatt energy source.

Brazil's government is expecting to slash its 2010 budget by ten billion reais to prevent the nation's economy overheating, according to an announcement by the nation's finance minister ahead of a meeting with the budget and planning minister to finalise the figure.

The finance leader also said the eurozone crisis would not affect Brazil this year although it will impact exports, while local experts have forecast Latin America's largest economy will expand by a further 6.06 per cent this year.ADNFCR-1477-ID-19791608-ADNFCR

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