From Tuesday, September 18th to Monday, September 24th, 2018
Obrainsa-Astaldi Consortium must decide on possible intervention of the Special Irrigation and Hydroenergy Project of Alto Piura (Peihap)
The representatives of the Peihap issued a management resolution on Tuesday, September 18, in which the Obrainsa-Astaldi consortium is notified regarding the option of an economic intervention with respect to pending debts by the company.
The general manager of Peihap, Marco Varas, commented that the consortium should paid US$ 17 million through a joint account. Since September 18th was the deadline for the economic intervention of the project, the consortium had already expressed its intention to collaborate with it.
After the aforementioned resolution was issued, the Obrainsa-Astaldi consortium had a period of 3 days to issue a definitive answer regarding the evaluated intervention; however, to date there is no information on any pronouncement. In case the consortium is not satisfied with the terms of the intervention and the administration of the joint account evaluated by the Peihap, the latter will choose to terminate the agreement with the consortium, which would generate the beginning of an arbitration or judicial procedure.