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Southeastern Brazil's Minas Gerais state water utility Copasa (Bovespa: CSMG3) has signed a 137mn-real (US$72.7mn) agreement aimed at improving basic sanitation systems in municipalities located along the São Francisco river basin.
The agreement, signed with São Francisco and Parnaíba valley development company Codevasf, aims to revitalize the São Francisco river and improve sanitation for 187,000 residents by building sewerage systems in 18 municipalities.
Codevasf will provide 123mn reais while Copasa, which is responsible for performing the work, will provide the remaining 13.7mn reais, according to a Copasa release.
National integration minister Fernando Bezerra, Minas Gerais state governor Antonio Anastasia and Copasa president Ricardo Simões were all present at the signing.