Empresa de Transmissao de Energia do Mato Grosso

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In November 2009, Consorcio Alupar-Bimetal, a partnership of the Brazilian company Alupar/Alusa (60%) and of the brazilian company Bimetal Industria Metalurgica (40%), was awarded in a competitive bidding process the contract to build and operate a 235-km transmission line in the state of Mato Grosso (the line was set to connect the cities of Nova Mutum, Nobres and Cuiaba – Lote D). Besides Consorcio Alupar-Bimetal, only the state-owned company Eletronorte took part in all stages of the competitive bidding process. The bidding criteria set by the regulatory agency ANEEL was the lowest required annual revenue. The winning bid was an offer of US$ 3.4 million (BRL 8.4 million) annual revenue (12.03% below the ceiling established by ANEEL). The contract was signed in June 2010, and the sponsors created the company Empresa de Transmissao de Energia do Mato Grosso (ETEM) to lead the project during the 30-year contract period. Information on the investment commitment was not available. The construction works commenced in early 2011 and concluded by December 2011. Also in December 2011, the state-owned bank BNDES granted a US$ 28.7 million (BRL 46.8 million) loan to the company.