Brazil OKs building of $17 bln Amazon power dam

SAO PAULO, (Reuters) – Brazil’s environment agency  approved yesterday the start-up of the Belo Monte power dam,  a controversial $17 billion project in the Amazon that has  drawn criticism from native Indians and conservationists.

The agency, Ibama, issued licenses to the consortium in  charge of Belo Monte to start the construction site and to  clear 238.1 hectares (588 acres) of forest land, about the size  of Monaco.

The government has said the 11,000-megawatt project, due to  start producing electricity in 2015, is crucial to provide