FACTORY ORIGIN

     

     CELGUSA project was financed by the Corporación Financiera Nacional –CORFINA-, starting with a US$ 110.0 millions loan, which was extended to US$ 160.0 in November 1981, to US$ 171.0 millions in February 1982, and additionally to US$ 188.7 million in March 1985. More over, CORFINA participated in the social capital of the company with US $ 25.0 millions

    The resources wich CORFINA financed the project were obtained by lendings that the Exterior Spanish Bank awarded 
(for US $ 188.7 millions): These loans should have been paid since 1985.

     Due to the lack of payment of the CELGUSA company, CORFINA promoted legal claim against CELGUSA, taking to itself the CELGUSA on November 17 th 1988.

Consecuently, CORFINA did not  count with enough founds for the payment of the loans given by the Exterior Spanish Bank.

A payment and cancellation agreement was signed in Spain on March 2001 to finish the matters.

    

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