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Santo Domingo.- The Dominican Government will have to pay the highway contractor company Codacsa US$45.0 million, after losing a lawsuit filed on alleged breach of the concession contract to build the Eastern Motorway, from San Pedro to La Romana, in November 2001.
The London based International Chamber of Commerce’s Arbitration Court upheld the contract’s validity and ruled that the defendant violated its obligations.
It also ordered the government to pay US$200,000 in administrative expenses and arbitrators' fees awarded by the Court.
Codacsa alleged breach of contract regarding the issuing of financing guarantees, denied authorization to build the San Pedro-La Romana toll plaza, and failure to update the payment of tolls and of “shadow tolls.”
President Leonel Fernandez’s Administration had turned a deaf ear from warnings even from Public Works minister Victor Diaz Rua, that Codacsa was failing to meet its road maintenance obligations in order to force a court showdown.
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"President Leonel Fernandez’s Administration had turned a deaf ear:
Especially to EDUCATIONAL needs of Dominican Children for 8 years even though the Constitution Writing on Charmin Toilet Tissue demands it!
Butthe plan to give vehicles a 4 or 5 month holiday from paying and not permitting the building of a peaje without the contractors agreement seems totally irresponsible ,,someone should be sacked without pension
In other Fishy Finnacial Dealing Road News:
Where is my little PURPLE Cheerleading brother from the Keystone State?
Adocco: There was "nebulae" in The Coral Highway
“SANTO DOMINGO- Each kilometer of the newly opened Coral Highway cost the Dominican people 222 million pesos, equivalent to 5.7 million dollars, was denounced on Friday by the Dominican Alliance Against Corruption, ADOCCO.”
“The entity described that figure as "alarming", since the original contract was estimated at 272 million 269 thousand 336 dollars, "being subject to two amendments, which raised its cost to 360 million 734 thousand 279 dollars, concluding the work at $ 400 million, an exorbitant sum for a country like the Dominican Republic".
continued:
“Responsibility for this blatant violation lies with the Minister of Public Works, the former Minister of Finance and the construction company; reason that the organization is requesting of the Chamber of Auditors to carry out an audit in order to determine the degree of irregularity in the contracting and construction of the Coral Highway at the exaggerated cost of $ 400 million.”
Read the rest:
almomento.net/articulo/115898/Adocco-critica-gastos-en-Autovia-del-Coral
“Denuncian "nebulas" en Autovía del Coral”