lunes, febrero 13, 2006

Coal-fired deal on hold

The CDEEE has put the tender for the two coal-fired generators on hold. As of late Friday, the Emirates Power DR group had not deposited the required US$40 million bond guarantee. This news was reported by Diario Libre. On Saturday, Listin Diario reported that the officials who are heading up the negotiations for these two power plants have not revealed the reasons for the delay in signing the contracts. Most of today's newspapers carry full-page announcements by the CDEEE explaining the negotiation process, with facsimiles of letters from Emirates Power DR, S.A. requesting an extension or, if necessary they would withdraw from the Hatillo, Azua project and only construct the generation station in Manzanillo. However, the CDEEE board of directors did not accept this, and is a rather unusual move, they have "freed the Sino-hydro Corporation Ltd., Emirates Power DR, S.A., and Holsteinson Asociados, S.A.! from their obligation" to install a coal-fired power generation station in Pepillo Salcedo, Monte Cristi. Furthermore, as also reported in today's Diario Libre, the CDEEE has authorized Radhames Segura to carry out negotiations with the Shichuan Machinery and Equipment Import and Export, Ltd., Constructors MC, C por A., and Constructora EMACA, the second best tender, for the construction of the generator in Monte Cristi under "conditions equal to or better than" those offered by Emirates for the construction of the Azua generation station. Pensemos en electricidad de m?nimo costo al cliente.

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