BNDES disburses US$119mn to Norte Fluminense
Bnamericas Published: Tuesday, August 31, 2004
Brazil's national development bank BNDES announced Monday that it has disbursed a 350mn-real (US$119mn) tranche for the Norte Fluminense thermoelectric plant, which is run by French power company EDF. The total amount in the loan approved by the BNDES is 750mn reais, with the second installment of 400mn reais to be released by September 15. The loan comes to 54% of the total investments to be made in the plant. It will charge the TJLP long-term investment interest rate, plus 4% annually, and has a 12-year term. The plant is to have a fourth turbine constructed. by Alaor Barbosa
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