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Brazil's Angra 3 nuclear power plant will not be ready before 2021, according to state-run power group Eletrobras.
The company will decide on a new working schedule for the plant by next month, CEO Wilson Ferreira told reporters.
Originally slated to begin operating this year at a cost of 10bn reais, the project is now estimated to require 19.6bn reais (US$5.87bn).
Meanwhile, Eletrobras could take legal action for losses stemming from corruption in construction contracts for the Belo Monte hydroelectric plant in the Amazon rainforest, Ferreira said.
And Eletrobras will save 920mn reais (US$290mn) annually by cutting 13,000 jobs over the next two years, according to Ferreira.
Some 13,000 workers, around 30% of the company's staff, are expected to accept voluntary redundancy packages, according to the Rio de Janeiro-based company.