March 26, 2018 / 9:17 PM / a year ago

Brazil's Furnas signs $175-mln deal with Odebrecht construction unit

SAO PAULO, March 26 (Reuters) - Brazil’s power company Furnas Centrais Elétricas SA, a subsidiary of state-controlled Eletrobras, signed a $175-mln contract with the construction unit of Odebrecht for the expansion of a power plant in Rio, according to a document and a statement from Furnas.

Odebrecht was one of the main targets in the so-called Car Wash corruption investigation in Brazil that led to the arrest of dozens of politicians and executives. Its construction unit, Odebrecht Engenharia e Construção (OEC), recently said it was working “on its liquidity” to avoid a default on bonds. (Reporting by Luciano Costa; Writing by Marcelo Teixeira; Editing by Sandra Maler)

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