Budget predicts BRL 4 billion for the constitution of a new state-owned company, says Economy

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According to the folder, the resources will be used for the state-owned company to acquire control of Eletronuclear and Eletrobras’ share in the capital of Itaipu

O Ministry of Economy reported on Monday, 13, that the 2021 Budget provides BRL 4 billion for the constitution of the Brazilian Company of Participations in Nuclear and Binational Energy (ENBpar), a new state-owned company created on this date by presidential decree that, after the privatization of Eletrobras, will manage Eletronuclear, which controls the Angra plants, in Rio de Janeiro, and Itaipu Binacional, in Paraná.

According to the folder, the resources will be used for the state-owned company to acquire control of Eletronuclear and Eletrobras’ share in the capital of Itaipu.

“By constitutional provision, both cannot be privatized: the first, due to the Union’s monopoly on nuclear activities; and the second, due to the Treaty of Itaipu, signed between Brazil and Paraguay, in 1973. For this reason, the creation of the company is provided for in the Eletrobras capitalization law,” explains the ministry in a note.

The ministry adds that the new company will have a lean structure and may incorporate, in the future, Indústrias Nucleares do Brasil SA, “which will allow greater rationality in the nuclear energy generation sector, making all activities in this chain linked to it controller”.

“The creation of the new state-owned company is one of the steps provided for in the capitalization schedule of Eletrobras and is subject to the effective privatization of the company. In this way, we are continuing the process so that the loss of the Union’s shareholding control and the issuance of shares occur until February of next year”, says Diogo Mac Cord, special secretary for Privatization, Divestment and Markets at the Ministry of Economy.

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