Part of the reparations (S/80 million or US$23.7 million) that Odebrecht will pay to Peru will come from the sale of its Chaglla hydro plant, as a down payment of the total amount (S/610 million or US$180 million) set as part of a collaboration agreement between the Inca country's authorities and the company.
Also, 5% of all payments made to the Brazilian company will be withheld for five years, the withholding rate will be raised to 7% in the seventh year.
In accordance with the
collaboration agreement, Odebrecht pledges to pay the sum of the down payment (S/80 million or US$23.7 million) if the sale is not successful.
Peru's Justice Minister Vicente Zeballos recently reported that Odebrecht had agreed to sell Chaglla hydroelectric plant —the third largest in Peru— to a state-owned Chinese consortium.
Zeballos said the scandal-plagued builder would get US$619 million from such sale.
The civil reparation amount was set taking into account four works: Cusco's Evitamiento Road, Costa Verde–Callao stretch concession, Lima Metro Line 1, as well as South Interoceanic Highway Project, stretches 2 and 3.
Odebrecht
As is known, the Brazilian construction giant admitted to having paid millions in bribes to government officials in Peru, in order to secure public-works contracts.
As a result, Odebrecht benefited from over US$143 million between 2005 and 2014 in Peru, according to the U.S. Justice Department.
Former presidential candidate Keiko Fujimori —currently under preventive detention— also allegedly received money from Odebrecht for her 2011 campaign.
(END) FHG/CCR/RMB
Published: 12/12/2018