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Economy

Six defaulters identified in privatization program. Two contracts have already been terminated

The Instituto de Gestão de Activos e Participações do Estado (IGAPE) (State owned Assets and Participations Management Institute) pointed out this Thursday payment defaults by six companies that competed for the privatization of state assets, with two contracts already terminated.

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"There are defaults in some contracts, notwithstanding all the 'due diligence' that we are doing, related to evaluation of financial capacity, some new circumstances prevent some contractors from having the capacity to comply," said IGAPE administrator Augusto Kalikemala, during a 'webinar' on privatization of assets and state holdings.

"Since the beginning of the program [PROPRIV], we have already identified six assets in which there have been defaults, and among these six assets there has already been the resolution of two contracts," he said.

According to Augusto Kalikemala, what is foreseen, if the payments are not made, is the resolution of the contracts and the return of the assets to the State: "What we have done is to comply with the assumptions that are in the contracts, that is, if the payments are not made within certain deadlines, the contracts may be terminated and the assets return to the State to be put up for sale again".

However, IGAPE is still trying to negotiate with the defaulters, so that the deal may come to a good end.

Already 41 of the assets registered in Propriv, under the responsibility of IGAPE, have been alienated, which allowed a financial receipt of 376 billion kwanzas and contracts worth 806 billion kwanzas.

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