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Project Brief

Summaries of proposed guarantees are provided prior to Board consideration and before final contract signing, and they are therefore subject to change. Project briefs are disclosed after Board consideration and contract signing and reflect the terms of the project at the time of contract signature. Environmental and Social Review Summaries are provided for projects assigned an Environmental Assessment Category of A or B.


Project name
Transmissao Itumbiara Marimbondo Ltda.
Project ID
Fiscal year
Not Active
Guarantee holder
Elecnor S.A.
Cobra Instalaciones y Servicios, S.A.
Isolux Wat S.A.
Investor country
Host country
Environmental category
Gross exposure
 $10.3 million
Project type
MIGA has provided three guarantees in the amounts of €3.6 million ($4.6 million) to Isolux Wat S.A. for its equity investment of €3.8 million; €3.5 million ($4.7 million) to Cobra Instalaciones y Servicios, S.A. for its equity investment of €3.8 million; and $1.0 million to Elecnor, S.A. for its equity investment of $4.5 million in Transmissao Itumbiara Marimbondo Ltda. The guarantees are for a period of 13 years and provide coverage against the risks of transfer restriction and breach of contract.

The project involves the construction of an $80 million power transmission line in the State of Minas Gerais, which will increase transmission capacity as well as improve the reliability of the electricity supply. MIGA’s participation in the project is consistent with the World Bank’s objectives of supporting Brazil’s power sector. The project is considered crucial for the country’s economic development because it bolsters transmission capacity, which is considered a priority in Brazil’s electricity development program for 1999-2008.

A total of 1,300 workers will be hired during the construction phase of the project and about 30 people during the operation of the enterprise. The project will also pay taxes amounting to an estimated $62 million during the lifetime of the concession, and in accordance with Brazilian law, roughly $400,000 of the cost of the infrastructure project will be set aside for the establishment of conservation areas, parks, and protected areas.

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