Nicaraguan Congress Approves Tumarín Project
The project with a cost of $500 million, which aims to generate 180 megawatts for the country, was approved in the National Assembly.
Thursday, July 2, 2009
The Special Law for the Development of the Hydroelectric Project in Tumarín establishes, among other things, a deposit of $42 million to the company that will execute the project as a guarantee it will be done.
Business sources indicate that the $625 million project would begin construction in 2010, in spite of having a pending judicial resolution.
The dam, which will generate 253 megawatts of power, requires an investment of $1100 million over four years.
The $350 million concession for the execution of the hydroelectric project is pending approval by the national assembly.
Two Brazilian companies will participate in the construction of an ambitious hydroelectric program in the northern part of Nicaragua
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