Thursday, May 5, 2011

Whats A Carribean Wax

terminated INAR Arascón engagement with the works of the Plaza of Spain

Unable to Arascón continue with the works, for financial reasons INAR rescinding the contract on 3 May. Now re-tender the work for games.
INAR president and mayor of Arnedo SA, Juan Antonio Abad , appeared in yesterday, May 4, before the media to explain the situation of the works of the plaza Spain. In his dissertation

Abad explained that on May 3 INAR terminating the contract with Arascón, it was impossible to proceed with the works, due to funding problems.
The mayor wanted to make clear, that at the time of award of the work, Arascón met all the financial and experience requirements that are demanded in the statement. However, the current crisis has caused Arascón is unable to obtain the necessary financing banks to continue with the works.
response, "We have taken steps to avoid any impact on the landowners, merchants and residents of the area, "explained Juan Antonio Abad .
In this regard, said that the same May 3 INAR makers held a meeting with the buyers of the parking spaces and commercial premises, to explain the situation, and to ensure that the work is going to end.
The next step is to re-tender the work, but to avoid funding problems INAR has decided to bid on items.
For its part, the manager of INAR, Francisco Bermejo wanted to make clear that not to be confused with Arascón INAR, as explained INAR is the promoter, and has no financing problems, while Arascón is the builder, and another is struggling to continue the work. In fact, according to Mayor INAR "is doing", and has paid Arascón 2,251,000 euros, per share of the work performed (approximately 45.57%), and stressed " INAR have paid with their own funds, without recourse to external financing. "
Bermejo, cleared the way has been paid to Arascón: 1.3 million in parking lots and the rest in cash. The total number of seats sold is 160, of which 100 have been bought and 60 Arascón citizens. The mayor wanted to send a message of reassurance to buyers by ensuring that the work is going to end and that "no must have cost overruns. "

In terms of timing, Bermejo, said he will try to comply, although he acknowledged that there are technical difficulties, but in any case the idea is to finish around the end of September.


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