BANKS DODGY DEALS CAMPAIGNS
Sections
Banks Dodgy Deals Campaigns
Our campaigns
Banks and Climate
Banks and Human Rights
Banks and Nature
Our projects
Tracking the NZBA
Banks and Russia
Banks and Steel
Tracking the Equator Principles
Tracking the PRBs
Find a Better Bank
Banks and the OECD Guidelines
Media
News Publications Events calendar
Raiffeisen Out! Bank.Green End Coal Finance Plastic Banks Tracker Defund TotalEnergies Financial Exclusions Tracker Equator-Complaints.Org Don't Buy into Occupation Banks & Biodiversity Forests & Finance Drop JBS StopEACOP Fossil-Free Finance
BankTrack
About BankTrack Organisation Our team Our board Our annual reports Funding and finances Guiding principles Our history BankTrack in the media Team up with us Our privacy policy Donate Get in touch
Successes Contact BankTrack
Donate Mailing list Facebook Twitter Linkedin Login
Home › Partner news ›
Partner News

Indrhi to resume construction of Guaigüí dam

2006-02-22
2006-02-22

The Dominican Republic's water resources authority (Indrhi) has signed an agreement to resume the building of Guaigüí dam on the river Camú for a total $65US.9mn, Indrhi announced in a statement.

The project will be financed by Dutch bank ABN Amro (NYSE: ABN) and a group of other banks from Scandinavian countries, an Indrhi communications executive told BNamericas.

Italian-Dominican consortium Impregilo-Yarull was awarded the contract to finish building the dam and the remainder of the project, which will cost $59US.5mn. Norwegian consultant Sweco Groner will be in charge of the final design of the project, in which $1US.3mn are to be invested, while project supervision will be in the hands of the Norwegian consultant Norpan AS for $5US.2mn, the statement said.

To resume construction, Indrhi was able to reactivate the $42US.5mn loan obtained previously, of which $23USmn were spent until 2003.

The institute also obtained a complementary amount of $23US.4mn to cover the cost increases in construction materials, final design and supervision. Of that total some $10USmn will be destined to relocating people that live in the area to be flooded, which was not considered in the previous project, the spokesperson said.

Construction will resume by mid-March and will take 29 months to finish, the Indrhi source said. Some of the project's already executed works include highways and a tunnel, but they will all be checked and re-conditioned if necessary, he said.

"This is a great step forward in President Leonel Fernández's government and for Indrhi management," the institute's executive director Frank Rodríguez was quoted as saying.

The project will guarantee the potable water supply to the city of La Vega, control flooding in the Camú river basin, supply irrigation for 5,000ha of land and generate 12.5 GWH of electric energy per year.

Norwegian construction company NCC began construction of the Guaigüí dam in 2002. But the company halted work in 2003, as it had discrepancies with the central government over project costs after an economic crisis that tripled the dollar's value. As no agreement was reached, the company refused to continue the works.

Numerous floods within the region made the execution of the project necessary and lead the government to focus its efforts in having it carried out.

Dodgy Deals
There are no active project profiles for this item now.

Guaigui dam

Dominican Republic
Project
On record
Hydroelectric Power Generation

Guaigui dam

Dominican Republic
Sections
Banks Dodgy Deals Campaigns
Our campaigns
Banks and Climate Banks and Human Rights Banks and Nature
Our projects
Tracking the NZBA Banks and Russia Banks and Steel Tracking the Equator Principles Tracking the PRBs Find a Better Bank Banks and the OECD Guidelines
Media
News Publications Events calendar
Raiffeisen Out! Bank.Green End Coal Finance Plastic Banks Tracker Defund TotalEnergies Financial Exclusions Tracker Equator-Complaints.Org Don't Buy into Occupation Banks & Biodiversity Forests & Finance Drop JBS StopEACOP Fossil-Free Finance
BankTrack
About BankTrack Organisation Our team Our board Our annual reports Funding and finances Guiding principles Our history BankTrack in the media Team up with us Our privacy policy Donate Get in touch
Successes Contact BankTrack
Nijmegen
The Netherlands
Contact us
Donate Mailing list Facebook Twitter Linkedin
© BankTrack
BankTrack is a registered charity in the Netherlands (ANBI) - RSIN 813874658
Find our privacy policy here

Stay up to date

Sign up now for all BankTrack's news


Make a comment

Your comment will be reviewed, before being posted