A PYMNTS Company

Brazil: Leniency for builder in nuclear plant corruption case

By  |  August 4, 2015

Brazil’s competition regulators have reached a leniency agreement with construction company Camargo Correa. The company has agreed to hand over evidence concerning a price-fixing ring affecting the tender process for building the Angara 3 nuclear plant.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    The case forms part of a wider investigation, known as “Operation Car Wash”, which has spread from its original focus on state oil company Petrobras, reaching the electricity sector last week with the arrest of several high officials in Eletronuclear, a branch of Brazil’s state-owned Eletrobras electricity company charged with managing nuclear power generation. Construction tycoon Andrade Gutierrez, who faces charges of paying bribes to win contracts at Angara 3, was also arrested during the sweep.

    State prosecutors in Parana state, where the corruption probe is being carried out, said the agreement will let Camargo Correa off the hook for fixing the prices of contracts with Petrobras in return for information on an alleged cartel set up to win the nuclear plant contract in 2013.

    Source: CNBC

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.