Economy February 17, 2021 | 12:09 pm

Freed-up Dominican tar market looks towards transparency

Santo Domingo.- The Public Works Ministry (MOPC) on Wed. said it decided to free up the Dominican tar market so that hot asphalt concrete (HAC) plants that participate in public bids acquire the material, AC-30, at market prices.

It said the decision was taken into account because the pre-existing contracts signed by the institution during the previous administration expired on November 30, 2020 and that for more than 20 years they generated price distortions and were “not very transparent” in the contract processes.

The MOPC said that in the next few days it will call for tenders of RD$3.04 billion (US$52.4 million) to buy HAC.

“The measure to liberalize the asphalt cement market was adopted by the MOPC through a resolution, which establishes that this product will be purchased at the prices agreed directly between the plants and their suppliers, and that it will form an integral part of their final offer.”