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Deal #3891 Version #64501

Colombia

Created at

2013-07-05

Last update

2013-11-27

Last full update

2023-08-22

Land area

Size under contract (leased or purchased area)

[2012, current] 42000.0 ha

Nature of the deal

Lease

Comment on nature of the deal

An investigation by the Colombian House Representative, Wilson Arias, revealed that Riopaila Ingenio Castilla SA rented 42,000 hectares of land in the Vichada, from 27 societies formed to buy the land with loans given for Riopaila, and these new 27 companies will "returned the favor" rented the land to this last one, for 30 years by an amount equal to the value of the area.

Negotiation status

[2012, current] Concluded (Contract signed)

Implementation status

[2012, current] In operation (production)

Leasing fees

Comment on leasing fee

Pesos $40 mill were loaned to the front companies to acquiring the land