After the transfer of the controlling interest to the State, the company will review existing contracts with rail customers.
Prensalibre.com reports: "The lease to Compañía Bananera Guatemalteca, the pipeline easement for fuel transport with Texaco, the route for LPG transport with Zeta Gas, signed in 2002, and the easement for electric power transfer with Generadora Eléctrica del Norte and a similar one with Generadora del Sur, signed in 2001, are the contracts that the state will recover when it gains the rights for the railroad. "
Representatives from YooChang Construction announced an agreement to purchase 82% of the shares of the Railroad Development Corporation (RDC), owner of Ferrovías.
The announcement was made by the president of YooChang Construction on a visit to Guatemala, who next week will be holding a meeting with directors of the RDC for the purpose of defining the first payment agreement.
Representatives from the Korean companies Hyundai and Yoochang have announced an agreement with the current owner of the Railroad Development Corporation, and a total investment of $2,400 million.
The Korean companies Hyundai and Yoochang Corporation plan to invest in restoring the functioning of the railway linking the Pacific and Atlantic coasts , to create a land alternative to the Panama Canal.