(2007). Complex project, Complex Project,Mega Risks Mega Risks Financial Risks of Rio Madeira Dam Complex. Amigos da Terra – Amazônia Brasileira/ Bank Track, São Paulo.
The Rio Madeira Hydropower and Waterway Complex is the main infrastructure work of Brazilian Government’s Plan for Accelerated Growth (PAC), encompassing two large dams and associated canal locks to permit navigation. This document analyses the project’s main financial risks, given the information available and its social, environmental, technical, legal and economic uncertainties.
As in any large scale project, financial risks and returns must be thoroughly estimated, given the possibility that small errors may bring severe damage to project sponsors, financiers and society at large. Such thoroughness becomes even more relevant in the case of Rio Madeira Complex, being a project developed far away from the main urban centres, in a region rich in biodiversity as the Amazon, although with a lack of social infrastructure. Historically, all large infrastructure projects in the Amazon have suffered from significant delays, and some of them have never been completed.
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