Agreement on Dissolution of Chaparral Contract
The CEL and the construction company Astaldi have rescinded the contract for the dam construction by mutual agreement, with $108 million being paid to the Italian company.
Friday, July 6, 2012
The termination of the contract between Astaldi and Executive Hydroelectric Commission of the Lempa River (CEL) was endorsed by the Republic of El Salvador’s Accounts Court, which stated that "one of the effects of an annulment is that payment to the contractor is recognized on the basis of the work or services performed wholly or partly and goods delivered or received. "
The Executive Hydroelectric Commission of the Lempa River (CEL by its initials in Spanish) in El Salvador is looking for a company to do a redesign of the project.
The talks to resume work have restarted, the cost is estimated at $19 million.
The Salvadoran regulator has granted a period of two years for the submission of a redesign of the project, currently on hold.
The agreement with the Italian construction company over the liquidation of the contract for building the El Chaparral hydroelectric station means the country will avoid an international lawsuit.
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