The corporation formed during the presidency of José Mujica generates millions in losses for the State every year.
The Finance Commission of the Senate voted unanimously this Thursday the bill that seeks to liquidate Gas Sayago SAthe shell company that was formed during the presidency of Jose Mujica and that, year after year, generates millionaire losses for the State.
Gas Sayago has been in the process of liquidation since 2019, since then, the company meant losses for the State for more than $9.55 million in terms of leasing National Administration of Ports (ANP)legal advice, surveillance, among other expenses.
The bill, which already has half a sanction by the deputies, must be voted on by the Senate between this month and next. The need to liquidate Gas Sayago responds to the urgency to eliminate expenditures by the State, and that the autonomous entities ancap and joint venturewhich are shareholders of the same, assume its debts.
How is the financial situation of Gas Sayago?
According to the official documentation of the company referring to its economic and financial situation, it has assets of 1,673,313 pesos ($43,655 at today’s price), a credit against the Ministry of Transport and Public Works (MTOP) for almost 46 million Indexed Units (UI)and a 6 hectare plot with 13 kilometers of land gas pipeline with a purchase value of $200,500.
Among its liabilities, it presents invoices withheld from companies for breaches of contract for almost 13 million dollars, debts with shareholders for almost 3.7 million dollarsand a cash flow that leaves monthly losses of $125,380.
In addition, it could face obligations such as the dismantling of the piles in the bay, which would cost about $5.4 milliona lawsuit for breach of contract for almost $6.4 millionand the removal of sand from Banco Arquímedes by the MTOP by other almost $2.4 million.
Source: Ambito
