Brazil's Cemig Signs BRL2 Billion Power-Supply Contract With Samarco
01 Août 2012 - 5:35PM
Dow Jones News
By Paulo Winterstein
SAO PAULO--Brazil state-controlled utility Cia Energetica de
Minas Gerais, or Cemig (CIG, CMIG4.BR), said Wednesday that it
signed a 2 billion Brazilian-real ($980 million) contract to
provide power for the operations of mining company Samarco
Mineracao.
Cemig will provide up to 409 megawatts of electric power for the
joint venture between Vale SA (VALE, VALE5.BR) and BHP Billiton plc
(BHPB.LN), starting in 2014 when the miner is expected to complete
a BRL5.4 billion iron-ore pelletization project. The power-supply
contract is valid through 2022, Cemig said in a statement.
The power will be supplied to Samarco's plants in the
southeastern Brazilian state of Espirito Santo and in the state of
Minas Gerais. The government of Minas Gerais controls Cemig, one of
Brazil's biggest generators.
Write to Paulo Winterstein at paulo.winterstein@dowjones.com
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