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March 7, 2008 |
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BANCO NACIONAL: Board Grants BRL354.7 Million Loan to Coelce Banco Nacional de Desenvolvimento Economico e Social's board of directors has approved a BRL354.7 million financing to Companhia Energetica do Ceara [Energy Company of Ceara] - Coelce. The resources will be destined to the triennial investments plan -- 2007/2009 -- and transferred by Unibanco, Votorantim, Itau BBA and Bradesco. Coelce's program for the period, amounting to BRL652.7 million, encompasses expansion works, modernization and improvements in the electrical system, distributed throughout the municipalities that comprise its concession area in the State of Ceara. Amongst the operation's benefits, which will count on BNDES support of 54.3%, one finds the expansion of the supply of energy to new consumers and the improvement in quality and accountability of the supply of electric energy in the region where the distributor operates. Furthermore, it bears a regional development character that will generate jobs and the purchasing of equipment from national vendors. The investments plan also contemplates the construction and modernization of substations; implementation of information technology systems, automation and implementation of technical systems; modernization of communication systems; and widening and modernization of the sales and administrative infrastructure. BNDES has already approved, since 2003, 188 electric energy projects, totaling financings of BRL29 billion, which opened room for total investments of BRL49.7 billion. Within that period, the Bank's support enabled 14.4 thousand MW of installed capacity generation. As to distribution, BNDES approved 28 projects, equivalent to financings of BRL3.9 billion and total investments of BRL6.6 billion. Coelce, a company from the Endesa Brasil group, controlled by Spanish Company Endesa, manages several projects focused on environmental education and performs impact studies of its activity upon the environment, with regards to the supply of clean and safe energy. It participates in Clean Development Mechanism [MDL] projects, based on the Kyoto protocol, and is signatory of the United Nations' Global Pact. Amongst the environmental projects and actions developed, one may highlight the development of ecological oils for transformers in partnership with Parque de Desenvolvimento Tecnologico [Technological Development Complex] and with Universidade Federal do Ceara [Federal University of Ceara]; the development of Composting Process for Recycling of Tree Trimming Tailings; and the Solid Wastes Management Program, in which the final disposal of lamps for recycling is underlined. In 2006, Coelce contracted 7.8 thousand GWh of electric energy, from which 56% derived from hydraulic sources, 43% from thermal energy and 1% from wind energy. Banco Nacional de Desenvolvimento Economico e Social is Brazil's national development bank. It provides financing for projects within Brazil and plays a major role in the privatization programs undertaken by the federal government. * * * Banco Nacional currently carries a Ba2 foreign long-term bank deposit rating from Moody's Investors Service, and a BB+ long- term foreign issuer credit rating from Standards and Poor's Ratings Services. The ratings were assigned in August and May 2007. |
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