Medina requests US$249.5M for dams in Dominican Republic’s SW

Santo Domingo.- President Danilo Medina submitted US$249.5 million loan to Congress Thursday, to build the dam at Monte Grande, Barahona (southwest), and rebuild the one at Sabana Yegua, Azua (south).

According to Brazil’s Central Bank, the loan from Brazil’s National Economic and Social Development Bank has a LIBOR rate during 60 months, and amortized over 16 installments,

In his message to the Senate, the Head of State says the contractor for the work, to be headed by the Dams and Canals Agency (Indrhi), will be the Brazilian giant Andrade Gutierrez.