The board of Cia. de Saneamento de Minas Gerais, the Brazilian water utility, has approved a plan to invest 1.05 billion reais ($514 million) in water-related projects this year.
Copasa, as the utility is known, will invest 900 million reais and its unit Copasa Servicos de Saneamento Integrado do Norte e Nordeste de Minas Gerais SA will invest the remaining, the Belo Horizonte, Brazil-based company said in a filing. Copasa operates in the state of Minas Gerais.
Copasa Aguas Minerais de Minas, another unit that furnishes water in the municipalities of Araxa, Cambuquira, Caxambu and Lambari, will spend 880,000 reais on waterworks, according to the Jan. 11 statement.