2022News

Deputies approve trusts for Punta Catalina and Pro Pedernales

In the Tuesday, 11 January 2022 session, the Chamber of Deputies approved the Public Trust Contract for the Punta Catalina Thermoelectric Power Plant (CTPC Trust), signed on 21 October 2021 between the Dominican state, the governmental Dominican Public Electricity Corporation (CDEEE) and the governmental Fiduciaria Reservas, S. A.

The public trust project sent by the Executive Branch creates the CTPC Trust, an independent management trust structure for the administration of the Punta Catalina Thermoelectric Power Plant. The trust is made responsible for executing actions and works necessary for the conservation and maintenance of the 752 MW coal-fired power plant.

Also approved in a single reading was the trust contract for the tourist development of the province of Pedernales (Fideicomiso Pro-Pedernales), signed on 14 January 2021 and Addendum No. 1 of the Trust Contract for the tourist development of the province of Pedernales (Fideicomiso Propedernales), signed on 8 November 2021.

The approved bill establishes that the Pro-Pedernales Trust is an independent financial structure for the transparent and efficient administration of the trust assets to encourage future investments and ensure the correct development of tourism in Pedernales. With the approval of Addendum No. 1, the trust will receive special tax treatment.

Read more in Spanish:
El Dia

12 January 2022