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Brazil loans for aqueducts, Dam.

President Leonel Fernandez announced the DR will borrow US$160 million from Brazil to build the northwestern aqueduct that has been on the government agenda for the past decade, reports DR1 Daily News (Nov. 8, 2004). Most of the money would fund the pipeline system for the aqueduct; construction will take three years from the scheduled start date in mid-2005. The water for the aqueduct will be channeled from the Moncion Dam and distributed over an area of 2,500 kilometers. The DR will borrow another US$131 million from Brazil to build the Pinalitos Hydroelectric Dam in the area of Constanza. The dam should be completed in 42 months. Construction was begun in September. Some 80% of the funding for both projects would come from the Brazilian Development Bank (BNDES), which supports the export of goods and services from Brazil. The entity is a federal public company associated to the Ministry of Development, Industry and Foreign Trade and the Brazilian contractor company, Constructora Norberto Odebrecht, a Brazilian leader in construction and engineering. CNO will undertake both the dam and aqueduct projects. Another US$80 million will reportedly be borrowed to build an aqueduct in Nagua in the country's Northeast, said Ernesto Baiardi of Odebrecht.
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Title Annotation:Dominican Republic to borrow finance for water supply and dam construction
Comment:Brazil loans for aqueducts, Dam.(Dominican Republic to borrow finance for water supply and dam construction)
Publication:Caribbean Update
Article Type:Brief Article
Geographic Code:3BRAZ
Date:Dec 1, 2004
Words:205
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