Two experts say CAF indebtedness is overpriced at $140 million

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Members of Venezuelan Parliament discuss a $350 million CAF indebtedness law for the implementation of electrical projects in four states of the country that includes overprices and unnecessary measures over the $140 million according to the experts Miguel Lara y José Aguilar, both consulted by El Pitazo.

The law stipulates an agreement between the Bolivarian Republic of Venezuela, the CAF and United Nations Development Programme, this last one would be the administrator of the resources financed by the CAF to the Venezuela State according to the draft checked by El Pitazo.

The Humanitarian Support Mechanism for the Emergency of the Electrical Sector, a document prepared by CAF technicians after a field work in the country – authorized by Corpoelec, a state company, showed the largest investment in Zulia for an amount of $231,500,000 million.

Part of that money would be invested in Zulia state, one of the most critical regions, destinated for the incorporation of 240MW in Fast Power Units in two plants during five months. Although the project does not specify the model of the machines to be acquired, the price in the document is higher than the price is available in the market.

Engineer José Aguilar, an international consultant in electrical risk analysis, says that there are at least 800 megawatts in Fast Power units that today are inoperative and at least two machines are news and never were installed.


Also explained that the installation of that kind of technology shouldn’t exceed 45 working days, otherwise it would not be about fast response generation. This plan it would not be the ideal to solve and relief the critical situation in Zulia.

Unjustified Investment

Miguel Lara, former manager of Planning of the Interconnected System, considers the Project addresses the emergency by zones and not as the structural crisis that require an integral solution. “What they propose is the same thing that Corpoelec did: Inconvenient shopping that are not the solution wasting money that only give benefits to unscrupulous buyers and seller making more damages to Venezuelan people”. Overprices there’s not only in Zulia, also in other regions like Los Andes.  

Both Jose Aguilar and Miguel Lara insist that there are technically superior and less expensive options that would put to the Venezuelan electrical system more than four times that the amount of capacity (MW) that the proposal submitted by CAF, UNPD and the Boston Group.

The agreement involves Maduro

The Humanitarian Support Mechanism for the Emergency of the Electrical Sector introduced to National Assembly by de Boston Group is only possible if the Parliament give their approve. The plan estimates to incorporate 1,070 MW to the national electrical system: 240MW in fast power units, endowment to electrical plants to hospitals and recover 218 MW (thermic) installed in plants in Merida, Táchira, Nueva Esparta, Zulia y Caracas.

The proposal of an indebtment plan was presented the past November 9th to Juan Guiadó, the Parliament leader, in a letter sent by the Boston Group and signed by its Venezuelan coordinator, Pedro Díaz Blum.

UNT deputies are the promoters of the law inside the NA and is the parliamentarian Nora Bracho head of Service’s Commission in charge of the project with the support of Accion Democratica.

Nora Bracho, Enrique Márquez and Manuel Rosales, members of UNT were asked for an interview but it wasn´t possible. Pedro Díaz Blum also was consulted and he said “it’s not Good to talk about this”.

Only Elías Mata, UNT Zulian deputy answered about how the plan involve to work with Nicolás Maduro: “We must to do something to relief the suffer of Zulian people. We can´t cross arms”. About the overprice in the Project he said know nothing. “We must to say this kind of things. I’m going to ask”.

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