NewsWhore
03-21-2007, 03:00 PM
The government has sent a legislative proposal to Congress for the issue of a US$40 million letter of credit for the companies that are to construct two coal-fired generation stations in the Dominican Republic. One station is planned for Azua and the other for Manzanillo. The CDEEE requested the letter of credit from the Minister of the Treasury and the Banco de Reservas. According to Diario Libre, the money is a guarantee for the purchase of energy that the Sichuan Heavy Machinery Company will use as part of its efforts to garner the financing for its 600-megawatt plant in Manzanillo. According to Radhames Segura, the head of the CDEEE, once the letter of credit goes through, construction work on the US$800 million project could start.
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More... (http://www.dr1.com/index.html#3)