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Refinancing approved

Shareholders of Argentine utility Hidroelectrica Alicura have unanimously approved a US$200M bank facility to refinance the company’s existing negotiable bank loans and other finance due in March 1999. The vote took place in Buenos Aires on 12 March.

Hidroelectrica owns and operates a 1000MW hydroelectric plant and associated 130m high dam on the Lemay river, near Bariloche, in the Neuquen province of southern Argentina. The dam and hydroelectric station came on line in 1984.