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Prosecutor Investigates Cartagena Concession Extension - Colombia

Published: Friday, November 20, 1998 0:00 (GMT -0400)More news from Colombia

By Archives  / La Nacion-Costa Rica

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Colombia's Public Prosecutor has questioned former ports' director Juan Carlos Aldana as part of its investigation into last August's 30-year extension of SPRC's concession to operate the port of Cartagena. Aldana is alleged to have favored SPRC illegally.

The decision to extend the concession until 2033 was taken despite fact that six members of the port's advisory board did not sign the agreement.

SPRC initially agreed to invest US%133mn in the port, but this was subsequently lowered to US$88mn. The state received US$2.89mn port revenues in 1994-1997, while SPRC received US$8.66mn profits during the same period.

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