How much does Tocoma Dam cost?
The Tocoma Dam (Manuel Piar Hydroelectric Power Plant) is the last and largest of the lower Caroni River dams in Bolívar state, Venezuela, designed for about 2,160-2,320 MW and 12,100 GWh a year and awarded to the OIV consortium of Odebrecht, Salini Impregilo and Vinccler. Construction began in 2006 and was promised for 2012, but the project is years late, the dam began impounding its reservoir in November 2015 and as of 2019 it was still unfinished, with Odebrecht having paid at least USD 118 million in bribes. Caracas Chronicles reports its cost tripled from USD 3 billion to USD 9.4 billion by 2017.
Published project estimate
$9.4 billion
Cost basis: 2017
Antolin Martinez ACC BY-SA 3.0
Cost evidence
Basis of the published figure
Published project estimate2017
Project record
Construction started
caracaschronicles.com2006