March 18 (Bloomberg) -- Cia. de Saneamento Basico do Estado de Sao Paulo, Latin America’s largest publicly traded water utility, has been approved for a 1.35 billion-real ($680 million) loan from state-owned Banco Nacional de Desenvolvimento Economico e Social to clean the Tiete River.
The project will expand wastewater collection and treatment in 27 municipalities in the state of Sao Paulo, Brazil’s most populous, according to BNDES, as the bank is known. It will cost 2.9 billion reais and boost the portion of sewage treated in the region to 84 percent.
Sabesp will also use the funds to expand three sewage-treatment plants, according to the March 15 statement. The program to clean the Tiete River started in 1992 and is now in its third phase.
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