A consortium of Chinese firms led by Three Gorges Corp is in talks to buy the Chaglla hydroelectric project in Peru from Brazilian firm Odebrecht, newswires have reported.
Reuters said that Peru’s Justice Ministry announced the plant would be sold for at least $618 million, with Odebrecht set to put around half the sale price into a trust to cover reparations in a legal case.
As part of the deal, the Chinese consortium will pay off Odebrecht’s debts regarding the project, meaning the deal with require a total investment of around $1.39 billion, Reuters reported.
Negotiations on the deal are still ongoing.
