President Authorizes ICE to Take on US$435mn in Debt

Costa Rica's President Óscar Arias has signed a decree authorizing state power and telecom group ICE to take on up to US$435mn in debt, the presidential website reported.

Arias' decree exempts ICE from having to request authorization from internal and external financing and investment authority Conafin to develop projects, the report said.

The financing will be split evenly between power and telecom, the report added.

Meanwhile the legislative assembly is studying legislation to modernize the group.

Further, the decree declares ICE's power and telecom expansion plans of public interest. ICE is studying the possibility of building a 100MW thermo project, BNamericas reported earlier this month.

BNAmericas.com"

Posted to the site on 23rd October 2006