Odebrecht demands an additional R$ 264 million for Arena PE.
Odebrecht, the company responsible for the Public-Private Partnership (PPP) of Arena Pernambuco, has filed for arbitration seeking to recover R$ 264 million more that it claims was invested in the project to meet a series of additional requirements from FIFA, including reimbursement of taxes and financial charges. If the court rules in favor of the payment, the total cost of Arena Pernambuco will increase from R$ 479 million to R$ 743 million.
Pernambuco 247 - Odebrecht, the company responsible for the Public-Private Partnership (PPP) of Arena Pernambuco, has filed for arbitration seeking to recover R$ 264 million more that it claims was invested in the project to meet a series of additional requirements from FIFA, including reimbursement of taxes and financial charges. If the court rules in favor of the payment, the total cost of Arena Pernambuco will increase from R$ 479 million to R$ 743 million.
According to the Arena Pernambuco Consortium, of the total value of R$ 264 million, R$ 190 million is being charged due to pressure to accelerate the completion of the work. Another R$ 47,5 million refers to additional requirements made by FIFA, R$ 23 million in tax reimbursement and R$ 3,5 million in financial charges.
The vice-governor and head of the working group dealing with the matter, Raul Henry (PMDB), said that the request for arbitration was made in September of last year. "At the time, then-governor João Lyra (PSB) didn't want to interfere in the matter. And the issue hasn't progressed much yet, precisely because of the transition period we are experiencing," he explained.
The Pernambuco State Court of Auditors (TCE-PE) announced that its engineering unit will travel to the Arena to investigate on-site the works carried out that resulted in the increase over the original cost. The audit results are expected within 90 days.