Dispute over hydroelectric

PANAMA. The Panamanian hydroelectric company Progreso accused the National Public Service Authority (ASEP) for alleged irregularities during the granting of a concession to the company Ideal Panama, property of Mexican billionaire Carlos Slim.

The president of Progreso, Cesar Lisac said that the concession to build the hydroelectric Baitun in Chiriqui was originally given to his company, but later was taken away by the ASEP to be given in a “fraudulent” manner to Ideal Panama.

The ASEP said that the concession given to Progreso was cancelled, after the company did not start the project after four years of having signed the contract.

Progreso received three extensions, when it asked for a fourth one the concession was cancelled.