Brazil, Sao Paulo: Brazil's state-run electricity company Centrais Elétricas Brasileiras SA (Electrobras) announced its plans to invest $3.38 billion ($13.16 billion reals) in electricity projects in 2016.

Brazilian electricity utility to invest $3.38B in 2016

Brazil, Sao Paulo: Brazil’s state-run electricity company Centrais Elétricas Brasileiras SA (Electrobras) announced its plans to invest $3.38 billion ($13.16 billion reals) in electricity projects in 2016.

Within the budget, Electrobras plans to invest $1.16 billion in electricity generation, $337 million in transmission and $344 in distribution, the company said in a statement.

Further $705 million is planned for maintenance projects in the generation, transmission and distribution sectors and $148 million for research and development (R&D) and infrastructure projects, while the remainder is allocated to investments in partnerships.

Source: Eletrobras