Guatemala to Review Rail ContractsFriday, September 13, 2013 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. " Guatemala Pays $14.6 Million to Retake TrainsWednesday, September 11, 2013 With the payment to be made next month, the 82% stake held by Ferrovías will become property of the Guatemalan state. This will see the fulfilment of the judgement by the International Centre for Settlement of Investment Disputes (ICSID), which ruled in favor of the company subsidized by Railroad Development Corporation (RDC) in 2012. The Finance chief, Pavel Centeno, said "we have identified the funds and the space in the budget where the money will come from". Guatemala: Korean Company agrees to Purchase FerrovíasWednesday, January 11, 2012 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. Guatemala: Rail Investment DenialTuesday, May 24, 2011 There is an old saying that if something looks too good to be true, it probably is ... The U.S. company Railroad Development Corp. (RDC), which owns the railway concession in Guatemala, has denied having reached an agreement to sell. Guatemala Sells Railway to KoreansThursday, May 19, 2011 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. Korean Companies Interested in Guatemala RailTuesday, May 3, 2011 The firms Hyundai Corporation and Sha Yu have shown interest in acquiring a stake in the railroad business. Guillermo Porras of The Attorney General's Office, said that in the course of this month a delegation from the Hyundai company will arrive for a fact finding mission and to learn about the state of the petition for arbitration that the Railroad Development Corporation (RDC), railways beneficiary, has brought against the Government of Guatemala. State of Guatemala unsuccessful in stopping Ferrovias lawsuitTuesday, November 18, 2008 Ciadi, based in Washington, rejected the request by the State of Guatemala to suspend the suit for $65 million that was presented by Ferrovias in 2007. By rejecting the objection, the International Center for the Resolution of Investment Disputes (Ciadi) asserts that it has the jurisdiction to handle the case in which the RailRoad Development Corporation (RDC), the majority shareholder in Ferrovias, is suing the Government of Guatemala. |
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