The Gov. Luis Fortuño administration announced Monday its decision to turn over the management and upkeep of two island highways, PR-22 and PR-5, to the consortium of Goldman Sachs and Abertis, through a 40-year contract worth more than $1.4 billion.
Following a lengthy evaluation process, the government will announce Monday the winner of the concession to manage one of the island’s principal highways, and a secondary road, Puerto Rico Public-Private Partnerships Authority Executive Director David Álvarez told a small group of journalists Thursday.
How many times has it happened that you excitedly find a store online selling that one item you have been coveting or needing, only to discover that when you’re ready to pay for your order, you’re shot down by a message saying “we do not ship to Puerto Rico.”
U.S. Under Secretary of Commerce Francisco Sánchez urged Puerto Rico Wednesday to take advantage of the recently formed U.S. Corporation for Travel Promotion, which has $200 million to market the mainland and its jurisdictions on a global scale.
President Barack Obama’s visit to Puerto Rico drew a slew of positive feedback from a handful of private-sector executives invited to his welcoming Tuesday, with most concurring that the historic event was positive and could result in long-term benefits.
Gov. Luis Fortuño met with President Barack Obama briefly Tuesday during the latter’s visit to the island, discussing the progress of initiatives to boost the economy, strengthen public safety and establish a “fair and representative process to solve the status problem.”
President Barack Obama basked under the scorching noontime Puerto Rican sun upon arriving to Puerto Rico Tuesday, walking the 300-foot stretch between Air Force One and the hangar at the Muñiz National Guard Base in Carolina.
Hundreds of local public and private sector representatives gathered at the Muñiz National Guard Base Tuesday morning to get a glimpse of President Barack Obama and listen to his remarks to Puerto Rico upon arriving later this morning.
President Barack Obama will be landing on Puerto Rican soil at around noon next Tuesday, keeping the promise he made two years ago during a primary campaign stop on the island to come back if he won the elections.
Although the government has managed to successfully contain public spending since 2008, the island’s indebtedness rate has soared at a faster pace than its Gross National Product during the last three years, currently reaching a 50-year high.
In the six-month period between Dec. 1, 2010 and June 3, 2011, the Permits Management Office has received 23,112 permit applications online, of which 71 percent have been processed, the head of that agency said during a public hearing Tuesday.
Gov. Luis Fortuño signed the law approving a $304 million bond issue to finance several infrastructure projects, mainly road improvements, planned throughout the island.
The Puerto Rico Public-Private Partnerships Authority has confirmed Goldman Sachs and Morgan Stanley were the front-runners to bid for the privatization project of PR-22, the 52-mile stretch of highway that runs from San Juan to Arecibo, a week after word got out that the New York-based investment banking firms were jockeying for the $1 billion contract.
Sales and use tax collections remain steady during the first 10 months of the current fiscal year, a pattern Treasury Department Secretary Jesús Méndez said is the result of several measures the administration has implemented to shore up much-needed cash for the government.
New York-based investment banking firms Goldman Sachs and Morgan Stanley are apparently dueling over the $1 billion privatization project of PR-22, the 52-mile stretch of highway that runs from San Juan to Arecibo.
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