Belgo Mineira and Samarco to set up power plant in Brazil

Jan 15, 1997 01:00 AM

Jan. 4, 1997 Samarco and Companhia Siderurgica Belgo Mineira, both controlled by the Belgo group, will make a partnership in order to set up a 140 MW power plant in Minas Gerais (Brazil). The plant, which will demand overall investments of R$123.5 mm (R$ 84 mm of which financed by the development bank BNDES), will allow Belgo Mineira to produce the electric power energy demanded by its Minas Gerais-based companies. In order to set up the plant, the Belgo group has opened a Single Purpose Company called Usina Hidreletrica Guilman Amorim, which will erect the plant and then rent it to Samarco and Belgo Mineira. The plant is to start to operate by Oct. 97. The group will sign an agreement with Cemig to integrate the plant to the company's existing distribution system.

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