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.”
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.