Brazil state funds may seek stake in Jirau-report

SAO PAULO, Brazil Aug 5 (Reuters) - Brazilian state-controlled pension funds Petros and Funcef may place a bid for the 9.9 percent stake construction group Camargo Correa (CCIM3.SA) has in Jirau, a massive hydropower dam project in the Amazon, Valor Economico said.

Camargo Correa, one of Brazil's biggest construction groups, is seeking to leave the consortium that controls Jirau but stay on as the project's builder. French engineering company GDF Suez (GSZ.PA) has a majority stake of 50.1 percent in Jirau's consortium Enersus.

Petros, the pension fund for oil giant Petrobras (PETR4.SA) and Funcef, the pension fund for state-owned savings and loan Caixa Economica Federal, might be ready to offer 300 million reais ($164 million) for the Camargo Correa stake, Valor said, citing people familiar with the situation.

Funcef President Guilherme Lacerda said the fund is considering the investment, Valor said. Petros President Wagner Pinheiro also told Valor the Camargo Correa stake in Jirau might be shared between the two state funds.

Other stakeholders include state-controlled utilities Eletrosul and Chesf, with 20 percent each.

The Suez group is hoping to bring Jirau online before it is obliged to sell 70 percent of its energy in 2012 to the national grid, so that it can sell on the much more lucrative spot market and recover its investments faster. (Reporting by Guillermo Parra-Bernal; Editing by Lisa Von Ahn)