Dominican Gov. would sell 50% of power plant of scandal

Santo Domingo.- Punta Catalina Power Plant administrator, Jaime Aristy Escuder, on Wed. said the Government has several offers from various countries for the purchase of 50% stake in the plant.

“Punta Catalina is going to be earning US$240 million in profits and as a result it’s an extremely attractive company for both local and international investors. The government is going to assess whether it’s attractive for it to sell a portion of its shares,” Aristy said after laying a wreath at the Altar de la Patria.

He added that if there is a private sector participation in the plant, “this would not imply any increase in the price of electricity.”

Scandal

The Punta Catalina Power Plant is at the heart of the Odebrecht US$94 million graft case and the ballooned cost scandal some estimates place as high as US$1.3 billion.

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