Elheraldo.hn reports: "The Law of Public Debt Restructuring deals with the sale or disposal of idle state assets, including projects in the area of natural resources, mining, energy and telecommunications."
According to president Porfirio Lobo, any concession must comply with the provisions of the recently adopted General Mining Law and then one of three routes pointing to the so called "mortgage law " must be defined in order for a concession contract to be awarded.
"Everything that is being done is based on the Mining Law, everything, that is, after compliance is made with the what the law dicatates, the government can take three paths: a concession with Inhgeomin (Honduran Institute of Geology and Mines), or transfering the project to Coalianza or making another project corresponding to the Finance Ministry," he said.
"The most convenient route that suggested in the decree, is that the project arrives at Finance, it is reviewed, it is analyzed and transferred to the Central Bank of Honduras (BCH), as trustee, the Bank's technical committee (composed of Sefin, Coalianza, the Ahiba, the Serna, and the BCH) has the project and transfers to a sub- trustee" he said.
President Porfirio Lobo announced that he will veto the Development Promotion and Public Debt Restructuring Act.
"We have reviewed the law and we have taken the decision to veto it and return it to Congress for them to make their observations," said Lobo.
According to the president, "mining companies have not paid royalties to the state for eight years, but they will have to under the new Mining Law and in order to achieve this the regulations on this legal ruling are about to be published," reported Proceso.hn.
The Honduran Council of Ministers has approved a draft decree relating to a trust agreement for the structuring, development and financing of the operation of the bulk cargo terminal at Puerto Cortes.
From a press release by the Presidency of Honduras:
The Council of Ministers, of the government of President Porfirio Lobo Sosa , approved the draft decree on Tuesday relating to a trust agreement for the structuring, development and financing of the operation of a bulk cargo terminal at Puerto Cortes, at the request of the National Commission for the Promotion of Public-Private Partnerships (COALIANZA).
In the event of not reaching an agreement with the current concessionaire, the government of Honduras is planning alternatives.
The Commission for the Promotion of Public-Private Partnerships (Coalianza) has a period of 10 days in which to reach an agreement with InterAirports SA (IASA) on the renegotiation of the technical and financial model for the construction of Palmerola, which they have been unable to finalize for the last five months.
Investment is secured with a Deed of Trust, the investors get an expected 8% cash on cash return paid anually, Units investment $25,000. with minimum two units. Fast Growth Area. I have a PUD approved to build 48 townhouses on 6.8...