Holding pattern. There are several controversies that plague the project. Dialogue sponsored by the Chamber of Commerce will continue until the end of the year.
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The only way out to save the Majes Siguas II project is to continue talking. The general manager of the Regional Government of Arequipa, Leonidas Zavala, confirmed that there are still no fund agreements. On May 8, the time for direct treatment that was activated due to the controversies raised by the Cobra company ended. This accuses breaches of the Autonomous Authority of Majes (Autodema) for the execution of the mega-work.
At the last meeting, the parties agreed to extend the talks until the end of May. In the minutes signed at the headquarters of the Chamber of Commerce and Industry of Arequipa (CCIA) a next meeting was set for May 23 at 11:00 a.m., “without this meaning waiving the rights of the parties established in the TUO (Unique Ordered Text) of the contract”. Cobra representatives again withdrew after signing the document without saying anything.
“We have to keep moving forward. In the meetings we set the points to be discussed and reach agreements and unblock all this issue from the project,” Zavala said.
When asked if they have perceived an intention to go to a international arbitration On behalf of Cobra, the official mentioned that by agreeing to talk they also seek to reach agreements. Cobra points out that the delivery of control of the project (land) and the non-approval of file No. 2 for the works of the second stage have not been fulfilled. Autodema accepts that there is a breach of the first, on the second it confirmed that Cobra did not raise 179 observations to the file.
Both Cobra and Autodema del GRA will participate this May 12 in the meeting before the Directorate for the Promotion of Private Investment of the Ministry of Economy and Finance (MEF) in the city of Lima. They will continue to move forward with aspects of the controversies and will report the actual situation of Majes II and expedite possible solutions.
The notification of the recommendations by the State Coordination and Response System in International Investment Disputes (Sicreci) is also pending. Before this body, they sought to reconcile the demands of Cobra that requests compensation of US $ 120 million for delays in Majes II. The GRA’s approach is that dialogue tables should be held with the Sicreci report after 72 hours of receipt. “We understand that the Sicreci report should be issued these days (…) We will continue to activate these mechanisms for talks,” he said.
Source: Larepublica
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