NewsWhore
08-03-2007, 04:00 PM
The Chamber of Deputies also approved a letter of credit for a value of US$30 million, which will be used to guarantee the contract for the construction of two coal-powered plants by the Sichuan power company. Diario Libre writes that a US$90 million fund has been created, equivalent to three months payment of energy supplied by Sichuan.
During the first PLD administration, the Cogentrix power plant was built based on a contract that was to become a major nightmare for subsequent governments because it cost much less to keep the plant closed than in operation. The contract with Sichuan has been highly controversial and business sector and opposition PRD party spokesmen and even former Central Bank Governor Bernardo Vega have said it will be even more detrimental than the Cogentrix contract.
More... (http://www.dr1.com/index.html#5)
During the first PLD administration, the Cogentrix power plant was built based on a contract that was to become a major nightmare for subsequent governments because it cost much less to keep the plant closed than in operation. The contract with Sichuan has been highly controversial and business sector and opposition PRD party spokesmen and even former Central Bank Governor Bernardo Vega have said it will be even more detrimental than the Cogentrix contract.
More... (http://www.dr1.com/index.html#5)