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Brazilian engineering company Grupo Queiroz Galvao said it would start building a $600 million hydroelectric dam in Nicaragua in partnership with Brazilian utility Eletrobras next year.
The 200 megawatt Tumarín power plant, located 240 kilometers southeast of Managua, is expected to enter service in 2014 if construction begins as scheduled in the first quarter.
Nicaragua's Congress approved a law on Wednesday to develop the project and set aside $42 million to guarantee the start of work.
Original source: Reuters