European companies involved in controversial Belo Monte dam project

The Belo Monte dam project is widely criticized for its possibly devastating effects on the environment, for endangering the livelihood of 40.000 people displacment of these people. Up to this point, it was widely believed that the project was mainly pushed forward by the Brazilian government. A report now revealed that foreign, including european companies and financial institutions indirectly own 10 percent of the project.   ... →

Belo Monte dam project- a threat to local population and nature

The Belo Monte dam project in North East Brazil is currently the largest dam project on earth.

The price for the profits of involved firms is huge: the local population is being displaced, their environment destroyed and species are wiped out.

More details on BankTrack and international rivers.   ... →

Vale S.A.: Vale involved in controversial dam project Belo Monte

Environmental damages in Brazil

The Belo Monte dam in the Amazonian Rainforest is a very controversial project. Nevertheless, it is supported by many investors, including Vale. The company will put $ 1,4 billion into the construction in order to have a stake in the consortium building the dam.

Initially planned for 2015, Belo Monte will be the third largest hydroelectric dam in the world.   ... →