Projects - Weekly snapshot

Publicado el 19/02/2018

Áreas de Práctica: Financiamiento de Proyectos

 


From Tuesday, February 13th to Monday, February 19th, 2018

SPOTLIGHT

The Ministry of Economy and Finance extended for 30 days validity of Emergency Decree No. 003-2017. Debate on new law project that will replace the aforementioned decree is pending in Congress

The Ministry of Economy and Finance reported that as part of the joint work carried out with the Congress of the Republic, it was agreed to extend the term of Emergency Decree N° 003-2017, in order to have more time for a detailed analysis and debate of the Law Project No. 2408-2017, which seeks to replace the aforementioned emergency decree.

However, the extension of Emergency Decree N° 003-2017 keeps companies in the construction that are being investigated for acts of corruption under great suspense, as well as workers of such companies, creditors and even the companies of the financial system, which have agreed not to grant financing to the aforesaid companies until a new law is approved that allows greater predictability of the payment of civil compensation and thus guarantee the payment chain of investment projects.

The debate will continue in the coming days and will be held in the justice and economy commissions of Congress.

MONDAY 19

  • Grupo Líder started the promotion of its new real estate project in the south of Lima, with an estimated investment of US$ 30 million (Gestión).

  • Nexa Resources reported that this year the Cajamarquilla refinery reconversion process will begin, with an investment of US$ 20 million (Gestión).

  • Westminister reported that it has entered into an agreement to acquire 100% of the Ilo Este and Ilo Norte mining projects in Moquegua, as well as other Latin Resources’ concessions (Gestión).


SATURDAY 17

  • The Ministry of Economy and Finance approved the transfer of US$ 523 million to guarantee the continuity of the execution of 2,000 investment projects in the country (Gestión).


FRIDAY 16

  • The Ministry of Justice and Human Rights reported that to date, the company China Three Gorges has not complied with presenting the information required for the authorization of the acquisition of the Chaglla hydroelectric project. The Chinese company reported that it has all the required documentation and expects to hold a meeting with the ministry (Gestión).

  • The General Comptroller of the Republic and the Superintendency of Banking, Insurance and Pension Funds are in favor of the law project presented by the government to replace Emergency Decree No. 003-2017. Nevertheless, the Comptroller's Office proposes a permanent control to guarantee the continuity of public works (Gestión).


THURSDAY 15

  • Deviandes reported that it will seek to discuss with the Ministry of Transport and Communications alternatives to compensate the lower collection due to its request for suspension of the toll on the Ticlio section of the Carretera Central highway (Gestión).


WEDNESDAY 14

  • The sale process of the "Chavimochic III" project of Odebrecht would not have concluded due to the withdrawal of potential acquirer (Gestión).


TUESDAY 13

  • The Ministry of Economy and Finance extended for 30 days validity of Emergency Decree No. 003-2017. Debate on new law project that will replace the aforementioned decree is pending in Congress (Gestión).

  • The deadline for closing the sale process of the "Chaglla" hydroelectric plant in favor of the company China Three Gorges, for US$ 1,400 million, ends on February 23. To date, the approval of the operation by the Ministry of Justice and Human Rights is pending (Gestión).

  • The Universidad Nacional Mayor de San Marcos signed an agreement with the Organizing Committee of the Panamerican Games Lima 2019, to execute the project of modernization of the stadium of the university, which will require an investment of US$ 14.5 million (Gestión).

 


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If you need more information, please contact Milagros Maraví (mmaravi@rubio.pe) or Carlos Arata (carata@rubio.pe)