Arcadis wins $146m contract for Brazilian HEP plant

ARCADIS (EURONEXT: ARCAD) has announced that its Brazilian subsidiary ARCADIS Logos, as part of a consortium, has signed a US$146m contract with Norte Energia S.A. to provide owner's engineering services to the Belo Monte hydroelectric power plant project in the Xingu River, in the state of Pará in northern Brazil.

Reuters reports that Norte Energia S.A. is formed by state and private companies in the electricity sector, construction companies, pension funds and investment companies.

The Belo Monte hydroelectric power plant will be among the largest of its kind in the world, and will require a total investment of US$15 billion for civil works, equipment and environmental compensations. Once in operation, it will have 11,200MW of installed capacity in renewable energy.

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