NewsWhore
03-26-2007, 05:50 PM
The government has sent Congress a bill for a a US$40 million letter of credit for the companies that are to construct the two coal-fired generation stations in the Dominican Republic. One station is would be built built in Azua in the Southwest and the other one in Manzanillo, in the Northwest. The letter of credit was requested by the CDEEE to the Minister of the Hacienda and the Banco de Reservas. According to the Diario Libre the money is a Dominican government 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, said that once the letter of credit goes through construction would start on the US$800 million project.
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More... (http://www.dr1.com/index.html#3)