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Brazilian company secures loan for third n-plant

Brazil,Business/Economy, Fri, 28 Dec 2012 IANS

Rio de Janeiro, Dec 28 (IANS/EFE) Brazilian state-owned utility Eletrobras said Thursday that it secured an additional 3.8 billion reais ($1.85 billion) in financing for its third nuclear-power plant, Angra 3.

The loan from public bank Caixa Economica Federal has a 20-year term and an interest rate of 6.5 percent, Eletrobras said in a regulatory filing.

Eletrobras earlier borrowed 6.1 billion reais ($2.97 billion) from Brazil's state development bank, BNDES, to fund the new 1,405 MW plant.

Scheduled to come on line in July 2016, Angra 3 is now under construction in Angra dos Reis, some 150 km from Rio de Janeiro.

The same city hosts both of Brazil's existing nuclear plants: Angra 1 and Angra 2.

Eletrobras subsidiary Eletronuclear estimates the total cost of building Angra 3 will reach 10 billion reais ($4.88 billion).

--IANS/EFE

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