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The Vice President of the Republic today presided over the signing of a new agreement between the Government and SOGEA-Satom, securing savings of CFA 20 billion on construction work on Bioko Norte, La Paz and Justicia avenues in Ciudad de la Paz.
The agreement follows several rounds of negotiations that reduced the costs of works that remained unfinished despite their high initial budgets.
The Vice President instructed that the first payment be made and a payment schedule established so that the company can resume work as soon as possible and fulfil the agreed commitments.
He also acknowledged SOGEA-Satom’s experience and good work in Equatorial Guinea and encouraged the company to bid for the water supply project, the construction of the conference hall in Ciudad de la Paz and other infrastructure projects planned by the Government.
The Vice President also called on other construction companies with outstanding government projects. He reiterated the Government’s willingness to negotiate, review budgets and reach reasonable agreements that will allow projects to be completed without continuing to incur excessive costs.
He also invited these companies to participate in new tenders, reaffirming the commitment to continue working with firms that demonstrate dedication, professionalism and the ability to deliver on their agreements.
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