APMT denies delay at Moin and posts strong Q3 results

In a statement issued exclusively to CM, Paul Gallie, APMT’s business development director for the Americas, said, “We expect to receive the Contraloria General’s (CGR) endorsement of the concession agreement before the end of the year.

In August this year APMT signed the agreement with the Costa Rican Government and the state-owned public utility Japdeva, which was then passed to the CGR for statutory endorsement, a requirement with all public contracts in Costa Rica.

Two months later in October, a judicial tribunal rejected an appeal by Sintrajap (Union of Japdeva workers) to halt the concession process. Not only did the tribunal reject the appeal but its resolution gave positive signals that legal security for foreign investments and the concession mechanism was a useful tool to aid the financial limitations of the State to develop infrastructure projects.