Friday, September 26, 2014

Argentina/España: Does Buenos Aires Have the Cash to Pay Abengoa?

According to The Latin American Tribune, Argentina’s Federal Electricity Board has awarded the Spanish engineering and construction firm Abengoa a contract worth $147 million to develop a power transmission project in Argentina, the company announced in a statement.

COMMENT: Admittedly, financial management is not among my specialties, yet it seems that common sense would suggest that the populist government of Argentine President of Christina Fernández is not necessarily in a business-as-usual setting given the financial crisis the President seems to be ignoring they're massive stand-off with the federal court system in the United State.

Abengoa will be responsible for the design, engineering, construction and commissioning of 176 kilometers (60 miles) of power transmission lines and of constructing the new Vivorata transformer station extending the one at Bahia Blanca and improving other existing facilities.

The project is projected to be completed in 33 months, will connect the cities of Mar del Plata, Villa Gesell and Balcarce in the province of Buenos Aires.

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