Caixa Bank, Rio Mais Consortium Arrange $450M Finance Plan For Olympic Construction

The Rio Mais consortium, consisting of construction companies Odebrecht, Andrade Gutierrez and Carvalho Hosken, and Caixa Econômica bank "closed a financing plan" worth R$1.4B ($447.1M) for the last stretch of construction of Rio de Janeiro's Olympic Park, according to Vinicius Konchinski of UOL. The amount "can be repaid in up to 20 years" and will be "used for the construction" of three Arena Cariocas, the Int'l Transmission Center (IBC) and the Olympic Park's underground infrastructure. Rio Mais CEO Fernando Pacheco said, "Since the beginning, we have been counting on these resources, which will guarantee a perfect construction process here. Now, our focus is the final stretch of work that will happen as scheduled" (UOL, 6/2).