October 08, 2008

CVRD to invest 470 million in energy infrastructure

Companhia Vale do Rio Doce recently announced that its board of directors has approved an investment budget of USD 11 billion for 2008, out of which 4.3% or USD 470 million in expanding and creating electrical energy infrastructure.

The details of various projects in this area is as under

Barcarena
2008 – USD 188 million
Total – USD 898 million
Project for the construction of a thermo electric plant with installed capacity of 600 MW in the state of Pará. Completion scheduled for December 2010.

Estreito
2008 – USD 165 million
Total – USD 514 million
The Estreito project, on the river Tocantins, on the border of the states of Maranhão and Tocantins, has already obtained a permit to build. The plant will have an installed capacity of 1,087 MW and should be completed in September 2010. CVRD has a 30% share in the consortium which will build and operate the plant.

Karebbe
2008 – USD 49 million
Total – USD 252 million
Hydro electric plant at Karebbe in Indonesia whose aim is to supply energy to PT Inco operations making possible the production of 90,000 tons of nickel in matte. Start up of operations expected for 2010.