The Cobra Concessionaire requested on Wednesday to the Ministry of Economy and Finance (MEF) start the direct deal process with the Regional Government of Arequipa (GRA) as part of the expiration procedure of the project contract Majes Siguas II, which began on September 29, 2020.
According to the document sent to the Special Commission of the State Coordination and Response System for International Investment Disputes from the MEF with a copy to Governor Kimerlee Gutiérrez, the main shareholder of the concessionaire Angostura Siguas, requested submit to direct treatment 5 points of controversy.
Payment of outstanding payments, damages for the failed attempt of addendum 13, the resolution of the concession contract due to non-compliance, recognize the loss of profit, that is, pay for the amount that they failed to obtain profits and finally, resolve on the delivery of Cobra’s assets and make the appraisals to pay for expiration.
The president of the Regional Council of Arequipa, Joseph Louis Hancco pointed out that the GRA has not yet replied to the first letter to Cobra, but you will have to choose your lawyers to reconcile in the direct deal and resolve the 5 points of discussion.
