They deny Punta Catalina privatization belief

The Ministry of Energy and Mines he caught his face out once more escrow from Catalina Point, just lately accredited by the Chamber of Deputies.

Through a press launch, Energía y Minas denied that with the escrow President Luis Abinader’s administration intends to denationalise the infrastructure or switch it to some enterprise group, because the Justice and Transparency Foundation (FJT) affirmed this week.

The company defined that the creation of a escrow for the administration of the thermoelectric plant is because of the curiosity of the Dominican State with the ability to take part within the electrical sector by producing and promoting vitality.

“Because by law a ministry cannot own a company or carry out commercial operations and, aware of the convenience of the Central Catalina Point participate independently in the national electricity market by producing and selling energy, the Government has decided to set up the plant in a escrow whose financial administration will fall to the state bank Banreservas through the trustee of the same name”, he detailed.

For Energy and Mines, let Catalina Point be administered by Banreservas, it isn’t privatizing it since each entities belong to the State.

“Is that a privatization? Does that mean assigning or giving away the asset to private parties? Catalina Point? Catalina Point It has not been put up for sale by the Government, nor are there plans or purposes to do so,” he specified.

Another of the criticisms that the contract of escrow, is that almost all of the members of Technical Committee are from the non-public electrical energy sector (Celso José Marranzini Pérez, José Luis Actis, Noel Báez Paredes, George Ángel Reinoso Núñez and John A. De Armas), who, if the contract is accredited, can have broad powers to deliberate and approve the actions of the escrow.

On the opposite, Energy and Mines clarified that the members of the committee weren’t appointed as representatives of any firm or enterprise group, however quite as residents with excessive skilled degree and managerial expertise.

In addition, it specified that the quantity of two,340.54 million {dollars} indicated as worth of Catalina Point within the contract of escrow, is referential.

“That value is a plain reference number which will have to be confirmed or ruled out by the results of the financial audit on construction costs and seriousness of investments; audit that will begin this month by a prestigious independent auditing firm”.

Regarding the delays within the audit, the company specified that, since December 2020, three public bidding processes had been launched to rent an auditing agency for Catalina Point.

He factors out that these three processes had been declared void and an organization was just lately categorised for stated audit. “The results of this investigation will be made public in the short term,” he defined.

In the identical order, the entity since greater than two months in the past the North American agency Sargent and Lundi is conducting a technical audit on development and performance Catalina Point and has already delivered the primary partial report of stated investigation. “The investigation will last six months and its results will also be published.”

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