AUGUST 2009

Chamber of Deputies approves three loans for 135.7 million dollars

For the building of the aqueduct Higuey-Bávaro…

BREAKING NEWS: The Chamber of Deputies approved in first reading three loans contracts for 135.7 million dollars, in order to build the aqueduct Higuey-Bávaro in La Altagracia Province.

The deputy Juan Campos emphasized the importance of the three loan agreements and explained that with this construction, the problem of water in one of the most important tourist poles of the country will be solved.

The first contract, subscribed by the Dominican Republic and the Deutsche Bank, S.p.A, has a value of 45 million dollars that will be used for the first phase of the construction as well as the second one, which has a value of 30 million dollars.

The Higuey Bávaro aqueduct will be built by the National Institute of Drinking Water and Sewers (INAPA).

The third contract was signed by the Dominican State and Ghella & Associates, for the realization of civil and hydraulic works, for a cost of 60 779 187.58 dollars.

These loans sent by the Executive Branch and approved during the past week by the Senate, received favorable votes from the three main Dominican parties and from the smaller ones too.

Bávaro Live, 12.08.09