• Costa Rica Coffee Guide

Alterra Contract Addendum Incomplete

March 3, 2006

After much fanfare last month on the part of the government and JuanSantamaríaInternationalAirport operator Alterra Partners that they had finally come to an agreement in their nearly three-year-old contract dispute, the Comptroller General of the Republic has already told them to put away the champagne glasses.

Following a preliminary review of the agreement, known as the contract addendum, the Comptroller determined the document is incomplete, the daily La República reported. The addendum needs the Comptroller’s seal of approval before it can go into effect (TT, Feb. 10).

Missing is more justification for some of the formulas used in the agreement to bring financial equilibrium to the contract. Public Works and Transport Minister Randall Quirós told the daily the setback will not delay the process extensively. The Comptroller was expected to decide on the addendum by mid-March.

The multimillion-dollar contract dispute began in March 2003 as a result of a report issued by the Comptroller questioning Alterra’s plans for airport financing.

Construction was halted after international banks funding the airport’s renovation suspended the final $30 million of Alterra’s $120 million loan until the dispute was resolved (TT,March 28, 2003).

While Alterra is mending its contract to operate Juan Santamaría, northwest of San José, the company – whose major partner is construction giant Bechtel – is interested in selling its participation in the two other airports it manages in Latin America, La República reported.

If its projects in Peru and the island of Curacao were sold, Alterra’s airport operation  would be limited to Juan Santamaría and a minor participation in the airport in Shanghi, Singapore.

 

You may be interested

Dental school or Costa Rica dental abroad?
Dental Tourism
2342 views
Dental Tourism
2342 views

Dental school or Costa Rica dental abroad?

Patrick Goodness / Goodness Dental - November 28, 2020

A visit to the local dentist is becoming too expensive for most Americans. While prices for routine check-ups and cleanings…

Costa Rica ending week with increase in coronavirus hospitalizations
Costa Rica
6262 views
Costa Rica
6262 views

Costa Rica ending week with increase in coronavirus hospitalizations

Alejandro Zúñiga - November 28, 2020

Costa Rica suffered 28 new coronavirus-related deaths between Wednesday and Friday for a total of 1,690, according to official data…

¡Viva siempre la paz! Costa Rica celebrates army abolition with holiday weekend
Costa Rica
16 views
Costa Rica
16 views

¡Viva siempre la paz! Costa Rica celebrates army abolition with holiday weekend

Alejandro Zúñiga - November 27, 2020

Costa Ricans will enjoy a long weekend to end November as the country celebrates a national holiday in commemoration of…