Copasa seeks US$51mn CEF funds for PAC sanitation works

- Friday, August 5, 2011

Copasa seeks US$51mn CEF funds for PAC sanitation works

Brazil's Minas Gerais water utility Copasa (Bovespa: CSMG3) is seeking 80.9mn reais (US$51.1mn) in funds from federal savings bank Caixa Econômica Federal (CEF) under phase II of the country's growth acceleration plan (PAC), a company spokesperson told BNamericas.

The company has submitted 86.2mn reais in projects to the cities ministry to be considered under PAC's group III municipalities.

"The remaining 5.37mn reais will come from Copasa itself," the spokesperson added.

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Of the total, wastewater collection and treatment works account for 65.1mn reais and potable water supply works 21.2mn reais. In all, 16 municipalities will benefit.

Proposals were submitted by the municipalities to national health foundation Funasa.

PAC II SANITATION - GROUP III

PAC's group III category covers municipalities with up to 50,000 residents. A pre-selection of the proposals is due to take place on August 26 and the results of the selection process are scheduled for November 4.

Group III funds coming from the cities ministry are financed by through CEF and national development bank BNDES. Grants are also provided by Funasa.