españolNew Contract for Odebrecht in PanamaWednesday, June 3, 2009 The company offered $211.6 million, the lowest figure, for the design and construction of a wastewater treatment plant. The deadline for the construction of a wastewater treatment plant in Llano Bonito, in the Juan Díaz jurisdiction, is 36 months. Odebrecht's Multi Million Dollar FineTuesday, April 18, 2017 Although the $2.6 billion fine is the highest of its kind in history, it is almost half of what the Brazilian construction company initially agreed with the US Attorney's Office. The fine imposed by a court in the Eastern District of New York puts an end to, at least in US courts, one of the most controversial corruption cases in history, involving the involvement of state officials and companies, businessmen and high ranking politicians. No More Business for Odebrecht in PanamaMonday, January 23, 2017 The Brazilian construction firm will not be able to participate in future tender processes and must withdraw from the contests for the fourth bridge over the Canal and the Metro line 3, but will probably continue with projects which are already under construction. The government has announced that the Brazilian company will not be able to take part in future processes, but in respect to the works it is currently operating, such as the construction of Line 2 of the Metro and the urban renewal in Colón, President Varela said "... ' we must protect the country's economy." The Aftermath of the Odebrecht CaseThursday, May 18, 2017 Moody's estimates lower economic growth in Panama in the short term, due to the potential negative impact of the delay in investments and the possible cancellation of large projects awarded to the Brazilian construction company. Although the controversial Brazilian company, accused of having developed a worldwide corruption network, had interests in several Latin American countries, it was in Panama that a large number of its projects were concentrated, ranging from the urban renewal of Colón, currently under development and with a estimated value of $500 million, to the contract to build the hydroelectric station Chan II, estimated at $1 billion and recently canceled by the Varela administration. Future of Hydroelectric Chan II RedefinedWednesday, April 5, 2017 Empresa de Generación Eléctrica will now be responsible for the concession, while the Varela administration evaluates how and when to re-tender the project. From a statement issued by the Presidency of Panama: Odebrecht Downrated AgainFriday, January 20, 2017 Fitch Ratings has downgraded Brazilian construction firm from B- to CC, arguing that the revelations about bribes "have exacerbated its reputational risk". From a press release by Fitch Ratings: The Arrest of Odebrecht's PresidentFriday, June 19, 2015 In Panama questions have arisen about the impact that will be felt from the arrest in Brazil of Marcelo Odebrecht on the many projects awarded to his company in the country. The arrest of Marcelo Odebrecht has generated uncertainty in important projects awarded to the Brazilian company, some of which are under implementation or have recently been awarded such as the Metro Line 2. Former President of Odebrecht ConvictedWednesday, March 9, 2016 The court ruling that imposed a 19 year prison sentence has forced a review of the projects being managed by the company in the region, where two projects which are underway in Panama alone, total $2.4 billion. On March 8th the Brazilian justice system condemned Marcelo Odebrecht, former CEO of the largest Brazilian construction company, Odebrecht, to 19 years and 4 months in prison and to pay a fine of $35 million along with executives from the group for the payment of about $65 million in bribes to officials in the case of corruption in the state run oil company Petrobras, reported La Prensa. The ruling mentioned fraud in tenders, where bribes were also paid for the award of the works. Alternatives to Finish Construction of TocumenWednesday, February 15, 2017 The administrators of the Panamanian airport are evaluating three options to continue the construction of the new terminal, if Odebrecht fails to complete it. The first option being considered by Tocumen S.A. Panama: Businessmen Oppose OdebrechtWednesday, January 18, 2017 The Chamber of Commerce, Industries and Agriculture has decided to expel the Brazilian construction company from the union, after the payment of bribes was revealed in several countries, including Panama. From a statement issued by the CCIAP: Panama: Funding Sought for Metro Line 2Monday, January 16, 2017 The consortium formed by Odebrecht and FCC Construction is negotiating with international banks to redefine the funding structure for the project, valued at $2 billion. Since the start of the revelations of the corruption scandal in which the Brazilian construction company Odebrecht was involved, doubts have arisen about how this could affect financing of the construction project for Line 2 of the Panamanian Metro, whose contract was awarded in June 2015 under the turnkey format. Panama: Odebrecht Wins Sidewalks ContractWednesday, April 13, 2016 The mayoral office has finally awarded the Brazilian company a $89 million contract to improve the Via España. In the midst of a controversial process because of appeals by two of the participants, the tender to carry out urban intervention works on the Via España has been finalised with the award going to the company Norberto Odebrecht, which submitted a proposal for $89,858,600. Metro Line 2 Contract Signed with Odebrecht and FCCMonday, July 27, 2015 Metro de Panama has signed with the consortium CL2 a contract for $1.857 million for the construction of Metro Line 2, and now only needs approval from the Comptroller General. From a statement issued by Metro de Panama: Guatemala: International Interest in Administrative CenterTuesday, June 2, 2015 The tender for the construction of an Administrative Center of the State is attracting building consortia from around the world, some of which are already operating in the country. The Spanish company Ortiz Construcciones y Proyectos, Odebrecht Investimentos e Participacoes, from Brazil, Inabensa Installations, from Span, Shikun & Binui Ltd., from Israel, and Consorcio CAE from Guatemala are construction companies with experience in works in Guatemalan territory, which have submitted documentation as expression of interest in bidding for the CAE. Odebrecht Wins New Contract in PanamaTuesday, November 24, 2009 Brazilian company Norberto Odebrecht will execute channeling works in the Caldera river for $11.4 million. This is Odebrecht's sixth contract with the Panamanian state. |
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Tuesday, June 28, 2022 - last update: Friday, 4:49 pm
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