Odebrecht case in Peru: Part of reparations to come from Chaglla plant sale

Photo: AFP
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.
Publicado: 12/12/2018
The whole sum will be paid over the course of 15 years, according to sources in the Lava Jato Case Prosecution Group.
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.
In addition, four ex-Presidents have been linked to the Brazilian company such as: Alejandro Toledo (2001-2006), Alan Garcia (2006-2011), Ollanta Humala (2011-2016), and Pedro Pablo Kuczynski (2016-2018).
Former presidential candidate Keiko Fujimori —currently under preventive detention— also allegedly received money from Odebrecht for her 2011 campaign.
(END) FHG/CCR/RMB
Publicado: 12/12/2018
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