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Brazil's Santo Antonio hydroelectric dam asks court to suspend its debt payments-report

 

 

By Reuters

RIO DE JANEIRO
Petroleumworld 05 11 2018

Brazil's Santo Antonio hydroelectric dam, which cost some 20 billion reais ($5.57 billion) to build, has asked a court to suspend its hefty debts as financial woes mount, the Brazilian newspaper Estado de S. Paulo reported on Wednesday.

Santo Antonio Energia (Saesa), the country's fifth-largest hydroelectric dam, is owned by Cemig, Saag Investimentos, Odebrecht Energia Caixa FIP Amazonia and Furnas.

The newspaper said it had access to a petition sent by Saesa to the president of the Supreme Court of Justice Laurita Vaz on May 3. In the document, Saesa requests that the court suspend debt payments so that it can try and negotiate 1 billion reais in debt it has with the Energy Trading Chamber (CCEE).

Saesa could not immediately be reached for comment. ($1 = 3.5914 reais)

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Reporting by Sao Paulo Newsroom; Editing by Cynthia Osterman from Reuters.

reuters.com /
05 10 2018

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