May 6, 2020 / 4:22 PM / in a month

Eletrobras keeps 5.3 bln reais investment plan despite pandemic -CEO

SAO PAULO, May 6 (Reuters) - Brazilian power holding Eletrobras is sticking to its plan to invest about 5.3 billion reais ($933 million) this year despite the coronavirus pandemic, Chief Executive Officer Wilson Ferreira said on Wednesday.

In a live online event hosted by Banco Safra, Ferreira noted that the government deemed power generation and transmission as essential services, which will allow it to continue operations, including new investment projects.

Ferreira pointed out, however, that quarantine and lockdown measures to contain the spread of the virus could affect some plans, mainly with regard to environmental licensing. (Reporting by Luciano Costa Writing by Jamie McGeever; Editing by Tom Brown)

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