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WASHINGTON, May 14 /PRNewswire-USNewswire/ -- The following was issued today by Amazon Watch: Spain's Banco Santander, which has been facing growing criticism for being a lead financier in a highly controversial dam project in the Brazilian Amazon, recently signed on to the "Equator Principles," a set of socially and environmentally responsible financing guidelines adopted by a growing number of private banks.
Legal challenges and a dispute between construction groups are threatening to delay the construction of a dam in the Amazon approved by Brazil earlier this week.
French engineering major Alstom has announced the construction of a hydromechanical equipment plant in the state of Rondonia, Brazil, in a bid to support hydroelectric projects in the northern region of the country, and supply hydromechanical and lifting equipment for projects in the Amazon region.
Brazil's plans to dam two rivers in the Amazon basin to generate power threaten a treasure trove of animals and plants in a region with one of the world's richest arrays of wildlife, environmentalists say.