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Dominican Today: Shell’s representative arrives, Dominican Refinery deal heats up

Dominican Today image: Rafael Maradiaga

Rafael Maradiaga arrived in Las Americas yesterday.

February 2008, 8:24 AM

SANTO DOMINGO. – Dominican Republic took the first step to buy 50 percent of the shares in the Petroleum Refinery (Refidomsa) from the multinational Shell, whose representative in the country, Rafael Maradiaga, arrived in the Las Americas International Airport yesterday afternoon, though declined to comment to Dominican Today.

Hacienda minister Vicente Bengoa said seven companies had been pre-selected, one of which would determine the value of those assets. He said five of those companies are foreign and two are registered in the country.

The official didn’t say when the winner would be selected.

Shell had begun to receive proposals, with the group Propagás offering US$183 million by its assets in Refidomsa.

Shortly after president Leonel Fernandez announced that the State would go ahead and purchase the shares.

http://www.dominicantoday.com/dr/economy/2008/2/29/27185/Shells-representative-arrives-Dominican-Refinery-deal-heats-up

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