President Santiago Peña has officially promulgated a law laying the groundwork for negotiating and implementing the commuter train project powered by renewable electric energy. The project will span the route from Ypacaraí to Asunción, passing through Areguá and Luque.
Asunción, Agencia, IP.- President Santiago Peña has officially promulgated a law laying the groundwork for negotiating and implementing the commuter train project powered by renewable electric energy. The project will span the route from Ypacaraí to Asunción, passing through Areguá and Luque.
The decree, signed by the President, activates the Law assigning the Ministry of Public Works and Communications (MOPC) and Ferrocarriles del Paraguay S.A. (FEPASA) to sign a sub-concession contract in favor of the Republic of Korea’s Public Entity, Korea Overseas Infrastructure & Urban Development Corporation (KIND).
Additionally, it empowers the Ministry of Economy and Finance (MEF) to facilitate project financing and establish a guarantee and liquidity trust to manage all project-generated resources.
According to the Law, once the implementation agreement and subconcession contract are signed, the subconcessionaire must secure definitive financial closure within a strict timeframe.
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