Compesa submits US$290mn PAC II water projects

- Wednesday, August 17, 2011

Compesa submits US$290mn PAC II water projects

Brazil's Pernambuco state water company Compesa has submitted a funding request for 457mn reais (US$290mn) in water and sanitation projects under group III of the second phase of the national growth acceleration plan (PAC), a company spokesperson told BNamericas.

"In all, we have submitted 108 sewerage projects that total 313mn reais and 61 water supply projects amounting to 144mn reais," the spokesperson said, adding that the projects were registered through the state's water and power department (SRHE).

Compesa submitted 161 initiatives totaling 352mn reais to be considered under national health foundation Funasa, including 74 sewerage projects and 43 for water supply.

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Of the sewerage works, the 10 largest jobs amount to 189mn reais. In addition, 18 sewerage connection projects that total 31.6mn reais were registered under the São Francisco and Parnaíba valley development company (Codevasf), the official said.

PAC's group III category covers municipalities with up to 50,000 residents. A total of 5bn reais has been earmarked for projects under the group, and the results of funding requests are due to be announced on November 4.

Some 1bn reais of the funds are coming from the cities ministry, financed by federal savings bank Caixa Econômica Federal (CEF) and national development bank BNDES. Funasa will provide 4bn reais in grants.