Brazil's Eletrobras to invest 6b reais a year through 2035

[SAO PAULO] Brazilian state-owned power company Eletrobras plans to invest 6 billion reais (S$1.51 billion) per year until 2035 expanding its power generation and transmission, according to a long-term strategic plan released on Saturday.

That could more than double, to 12.6 billion reais a year, if the government is successful in privatising the company, Latin America's largest electricity company said in a securities filing.

Privatising Centrais Eletricas Brasileiras SA, as the company is formally known, is a priority for the government, Brazil's energy minister said last week. But it requires congressional approval and faces an uphill political battle.

REUTERS