Eletrobras Power Plant Construction Halted by Court, Valor Says

Centrais Eletricas Brasileiras SA (ELET6) had the construction of a 1.2 billion-real ($590 million) power plant suspended by Brazil’s audit court, Valor Economico reported, citing the ruling.

The court, known as TCU, found irregularities in the bidding process through which construction company Andrade Gutierrez SA won the contract to build the plant, after the other five bidders were disqualified, the Sao Paulo-based newspaper said.

The gas-fired power plant contract was awarded by Eletrobras’s Amazonas Energia SA unit, Valor said.

To contact the reporter on this story: Rodrigo Orihuela in Rio de Janeiro at rorihuela@bloomberg.net

To contact the editor responsible for this story: James Attwood at jattwood3@bloomberg.net

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