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Bolivia's Empresa Misicuni cancels contract for dam comstruction

(SeeNews) - Nov 28, 2013 - Bolivian state-owned utility Empresa Misicuni yesterday cancelled the construction contract for the Misicuni dam to ensure the completion of the project amid insufficient liquidity of the contractor, Consorcio Hidroelectrico Misicuni, the first company said.

The dam is part of a multipurpose project for water supply and power generation of 80 MW, initially.

Empresa Misicuni will assume responsibility for the works by way of a tranquil transition, the firm's president, Jorge Alvarado, said. The firm mulls over re-contracting most of the workers employed by Consorcio Hidroelectrico Misicuni in order to proceed with the construction.

Consorcio Hidroelectrico Misicuni had failed to pay for pension funds, health insurances and other labour benefits and to contract key technical personnel.

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Diana Hristova is our expert for Latin America. She has spent several years following the diverse industries in the region, the energy sector most of all. Now Diana is exploring Latin America’s huge wind, solar, geothermal and hydropower potential.

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