Ecuador may default on US$200 mil. Brazil loan

Correa also sent Ecuadorean soldiers to occupy the plant and local offices of the Brazilian construction company that built it, Norberto Odebrecht. The loan from Brazil’s state-owned National Development Bank financed nearly three-quarters of the plant, which closed on June 6.

Correa said the US$338 million plant was poorly constructed by Odebrecht and expelled the company from Ecuador on Tuesday, ordering its assets seized and prohibiting company executives from leaving the country.

Subscribe to The China Post and save 25%. Click here

SharePrintEmail

Write a Comment

Enter your comments - 3000 characters max

Type in image code

Submit

 Receive China Post promos Respond to this email