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Financial News: COLOMBIA: Court Rules Odebrecht Out Of Ruta Del

COLOMBIA: Court Rules Odebrecht Out Of Ruta Del Sol Works

09/27/2017 - 16:01:00 (RTTNews)

(RTTNews) - The Administrative Court of Cundinamarca, in Colombia ruled that Odebrecht has 20 days to transfer to the National Infrastructure Agency (ANI) the works in the Ruta del Sol project's five tranches awarded to the Brazilian company in a tender.

The decision was made attending to a request by the Colombian Attorney General's Office.

Odebrecht in under investigation under investigation in multiple countries after revealed bribe payments throughout Latin America.

The Cundinamarca's court ordered that in20 days, the Concessionaire Ruta del Sol carry out the total transfer of the environmental licenses, initiate the procedures of property's transference, and move ahead with the formalities for the extension of guarantees for a new bidding.

The ruling was announced by the Attorney General Fernando Carrillo Flórez at the end of a meeting with the Transport Minister Germán Cardona and the ANI chairman Dimitri Zaninovich. At the meeting, they agreed to launch a high-impact action plan to recovery, stabilize and guarantee the route's future operation.

Carrillo Flórez also said that the Attorney General's Office filed a petition to be declared void a 785 billion pesos (US$ 267.5 million) compensation requested by Odebrecht for breach of contract.

The Ruta del Sol project was marred by scandal after allegations that the Brazilian construction company's paid bribes to be awarded the contract. Rua del Sol's works are halted since the end of last year.

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