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.