Furnas to invest US$341mn in 2004
Bnamericas Published: Monday, December 15, 2003
Federally-owned Brazilian generator Furnas plans to invest 1bn reais (US$341mn) in 2004 to modernize and expand its infrastructure, O Globo newspaper quoted Furnas president Jose de Oliveira as saying Friday. Oliveria said the money will come from the company's own resources and 338mn reais would be spent on modernizing the 50-year old 1,216MW Furnas hydroelectric plant in Minas Gerais state. Furnas is a wholly-owned unit of Eletrobras, the federally-controlled electricity holding company and has an installed capacity of 9,300MW and 15,000km of transmission lines.
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