Project delays mark the Cobra company in Panama

The Spanish electrical services company Cobra is facing delays in some projects contracted by the Panamanian state, amid local foreign publications linking it to Spain’s ACS Group rated as the company most sanctioned for contract rigging in Spain. The latter like Spanish newspapers like ElDiario.es.

Official sources indicate that it was in November last year Cobra Company In Changuinol, a functional power unit was supposed to be delivered, but there was a problem in its delivery and to this day the project has not been completed with any consequences for this population.

The company would also face delays in the delivery of other works contracted by state-owned companies, and some of those non-compliances could result in sanctions, according to sources connected to those contracts.

This week it was also made public that Cobra lost its long-term service contract with the power company Naturgy Panama.

We remind you that the past of the Spanish company, together with hers parent company ACS, It is more controversial at the international level.

El Diario.es reported in 2019 that this conglomerate of companies that includes Cobra has become the economic group most sanctioned for “fixing contracts and for being part” of economic cartels.

“The penalties announced by CNational omission of market and competition (CNMC) to The 15 companies that shared 1.055 million euros in Adif tenders for more than a decade made ACS the company that accumulated the largest amount of sanctions from the organization for being part of the cartel,” ElDiario.es reported at the time.’

fifteen

The National Market and Competition Commission (CNMC) fined the companies and awarded them 1.055 million euros in tenders for more than a decade.

2016

Also that year, Cobra was also embroiled in an environmental scandal in Guatemala within a hydro plant.

The ‘super regulator’ imposed a total of €82.9 million in fines on Spain’s number one construction company for these illegal practices, including directly on the Cobra subsidiary.

Likewise, it became known that in 2016 Cobra was also involved in an environmental scandal in Guatemala within a hydroelectric plant.

It is about the Renace hydroelectric complex, which consists of four power plants on the river, and will have a production capacity of 305 megawatts, which can meet 15% of the country’s electricity demand.

A year before the scandal, the company Cobra Servicios Auxiliares SA In Spain, he had another problem that ended with a million fine. Cobra then fired 140 workers in Spain without applying the provincial metal collective agreement to them.