Brazil Property News: Brazil to build new energy plants




11th March 2008 05:38


In further evidence of the country's economic growth, the Brazilian government has announced that it is to construct two hydropower plants.

In a move which could have a positive impact upon investment in Brazil property, the government is planning to build the plants to generate 12,000 megawatts of energy, reports Reuters.

Speaking in Rio de Janeiro, the country's energy minister Edson Lobao said: "The political decision has been taken ... we're studying when they will be built."

The government is to meet with representatives from Bolivia and Argentina to discuss the plans, which are likely to see the construction of the plants along the countries' borders.

In related news, the country's economy is set to be further boosted by the news that the auto industry is to invest $4.9 billion (£2.43 billion) this year, according to the Associated Press.

The Brazilian Motor Vehicle Manufacturers Association said that this investment was to meet demand.

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