Morales Sets November 20th as Contract Submission Deadline

Bolivia's President Evo Morales has established November 20 as the last day companies can submit their renegotiated contracts to congress for approval, government news agency ABI reported.

The 10 foreign companies operating in the country finished the renegotiation of their combined 69 contracts end-October in accordance with the nationalization process Morales began in May.

The first contracts were to be submitted to congress on Monday (Nov 6) and ABI quoted a legislator as saying that congress is set to endorse the contracts.

The terms of the renegotiated contracts came into effect on November 1, although they will not be made public until congressional approval is granted.

The contracts guarantee a US$3.51bn investment in 2007-10 for E&P, the report said.

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