RIO DE JANEIRO, Dec 17 (Reuters) – Brazil’s state-run power company Eletrobras (ELET6.SA), which the government is seeking to privatize, said on Friday it would invest 48.3 billion reais ($8.48 billion) from 2022 to 2026.
The amount, outlined in its Business and Management Master Plan, is up nearly 90% from its previous 2021-2025 plan, it said.
“This increase in investments will allow the company to return to growing in the generation and transmission businesses, while also maintaining financial discipline,” Eletrobras chief executive Rodrigo Limp said in the statement.
Centrais Eletricas Brasileiras SA, as the company is formally known, is expected to be privatized through a follow-on share offering by May 2022, according to forecasts released last month, but it has faced multiple delays.
($1=5.6959 reais)
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Reporting by Gabriel Stargardter
Editing by Sonya Hepinstall
Our Standards: The Thomson Reuters Trust Principles.
RIO DE JANEIRO, Dec 17 (Reuters) – Brazil’s state-run power company Eletrobras (ELET6.SA), which the government is seeking to privatize, said on Friday it would invest 48.3 billion reais ($8.48 billion) from 2022 to 2026.The amount, outlined in its Business and Management Master Plan, is up nearly 90% from its previous 2021-2025 plan, it said.”This increase in investments will allow the company to return to growing in the generation and transmission businesses, while also maintaining financial discipline,” Eletrobras chief executive Rodrigo Limp said in the statement.Centrais Eletricas Brasileiras SA, as the company is formally known, is expected to be privatized through a follow-on share offering by May 2022, according to forecasts released last month, but it has faced multiple delays.($1=5.6959 reais)Register now for FREE unlimited access to Reuters.comReporting by Gabriel Stargardter Editing by Sonya HepinstallOur Standards: The Thomson Reuters Trust Principles.