Brazil approves Tena airport financing, guarantees

Wednesday, February 9, 2005

Brazil's export financing and guarantees committee (Cofig) has approved a project to build an airport in Ecuadorian city Tena, Ecuador's foreign relations ministry said.

The authorization opens the way for Brazil's national development bank BNDES, which has approved a US$30mn loan for the project, and Ecuador's government to ink the loan agreement.

Signing is scheduled for February 14 in Tena, capital of Napo province, some 120km southeast of the country's capital Quito.

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"Unidad Binacional Construcción del Eje Aéreo," a Brazilian-Ecuadorian consortium led by Rio de Janeiro-based construction company Construtora Norberto

Odebrecht, will carry out the project.

The airport is slated to be ready in 2008 and is part of a plan to develop an air corridor between coastal city Manta and Manaus (Brazil).