$14B Belo Monte Dam Project Shelved By Brazilian Court

Law360, New York (October 29, 2013, 1:57 PM EDT) -- A Brazilian judge has revoked the environmental license of the $14 billion Belo Monte hydroelectric dam project and suspended the development over environmental concerns, a Brazilian court announced Monday.

The massive dam was slated to become the third-largest hydropower station in the world, according to Norte Energia SA, the consortium of Brazilian utilities in charge of building it.

But Brazilian Judge Souza Prudente found that the companies "trampled" environmental standards set for the project, like prosecutors allege.

"The declaration of nullity of the installation and authorization...
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