Posted in | News | Energy

Vale Consortium to Bid on Hydroelectric Power Plant

Feb 28 2010

Vale S.A. (Vale) informs that it signed a memorandum of understanding (MOU) with Andrade Gutierrez Participações S.A., Neoenergia Investimentos S.A. and Votorantim Energia Ltda., to form a consortium to participate in the public auction and bidding process of the hydroelectric power plant of Belo Monte, located in the Brazilian state of Pará.

According to the MOU, Vale and its partners intend to develop studies to determine the attractiveness of the project, assess the conditions for participation in the process, and after these steps, formalize definitive legal instruments that allow their joint entry in the auction.

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