El Chaparral Dam Project to Initiate in March

The BCIE will deliver $31.5 million in March, as an advance for a loan of $162 million, for the start of the construction of the dam El Chaparral.

Monday, February 23, 2009

La Prensa Grafica publishes in its website: "The project will cost $219 million, of which BCIE will contribute 74%, that is to say, $163 million. The remainder $56 million will come from the CEL. The BCIE loan has a time period of 20 years, with an annual interest rate of 6.5%.

´The funds were approved in December of 2008, when the contract was signed with the company Astaldi (of Italian capital), that won the bid. The advance is for March and the following payments will be done by them (the BCIE),´ confirmed Nicolas Salume, president of the CEL."

More on this topic

Geological Faults at Chaparral Hydroelectric Plant

January 2011

The problems detected could lead Cel and the Astaldi consortium, responsible for the project, to submit for international arbitration.

The faults which threaten the foundations of the dam were detected after Storm Agatha, halting all works at the site.

The Executive Committee of the Lempa River Hydroelectric Plant (Cel) and the Italian consortium Astaldi, before heading for arbitration, hired an international expert to determine who has the responsibility to cover the additional costs of a possible plant redesign.

El Chaparral Hydro Power Plant in 2013

August 2009

The president of CEL announced that the project is going according to schedule, and will be ready in January 2013.

Nicolás Salume, president of the Executive Hydroelectric Commission of the Lempa River (CEL), added that January 3rd, 2013, is the deadline for the builder to deliver the project.

$35.5 million for Salvadoran Hydroelectric

April 2009

BCIE conducted the first disbursement of $35.5 million for the El Chaparral hydroelectric project.

As part of a $163 million loan to build the El Chaparral hydroelectric, the Central American Bank for Economic Integration (BCIE) will disburse the first $35.5 million on Thursday, April 23.

Works on the Central Hydroelectric plant begin in El Salvador

September 2008

President Elias Antonio Saca will place the first stone for the El Chaparral central hydroelectric plant that will mark the formal start of construction.

The initial investment, estimated to be $163 million, will be financed by the Central American Bank for Economic Intergration, as was recently confirmed by the president of the Rio Lempa Hydroelectric Executive Commission (CEL), Nicolas Salume.

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