RIO DE JANEIRO, Aug 19 (Reuters) - Brazil’s federal energy company, Eletrobras SA, expects to maintain its 2014 investment budget of 14 billion reais ($6.2 billion) in 2015, Chief Financial Officer Armando Casado said on Tuesday.
Casado said the company would likely invest about 80 percent of this year’s 14.1 billion reais budget, after using 32 percent of it in the first half of the year.
“The investment depends on the rain patterns, rerouting of rivers and equipment purchases. This defines the pace of the work. The forecast is for realizing 80 percent,” he said, adding that next year’s budget would be similar to 2014.
The company is currently a partner in the construction of hydroelectric plants in Brazil’s broader Amazon Basin.
Casado said the company was in advanced negotiations to bring in a foreign partner in the Sinop hydroelectric project in northern Mato Grosso state on the edge of the Amazon.
Reporting by Rodrigo Viga Gaier; Writing by Reese Ewing