A fishing vessel belonging to Vieira Argentina. (Photo Credit: Vieira Argentina S.A.)

Finishing steps to repeal expropriation of Vieira

ARGENTINA
Thursday, November 13, 2014, 02:40 (GMT + 9)

Santa Cruz Government signed an agreement to rescind the decision to expropriate the fishing company Vieira. It has already been sent to the provincial legislature to be discussed at the meeting on 13 November.

As soon as the process, which still needs the Legislature’s approval, comes to an end, the industrial company Newsan will contribute about USD 10 million to reactivate the activity of Vieira, whose plant is located in Puerto Deseado.

The agreement to repeal the expropriation was signed on 7 November between the Production Minister, Harold Bark, and the fishing firm’s vice president, Daniel Badens.

This signature occurs two years after Santa Cruz Legislature declared the processing and storage plant of Vieira Argentina was public and subject to expropriation.

Since then, the provincial government has been paying the workers’ wages and promised to continue to do so until Vieira’s situation returns to normal.

As reported in Mar Y Pesca, among other things, the agreement sets that Santa Cruz Government is committed to return the enterprise and Vieira must not sue the government for damages that could have caused as a result of the expropriation.

Now, approval by the Legislature is expected so that the seven vessels that have not been operating for two years can start doing so.

Newsan plans to invest USD 2 million for the fishing firm to face the initial payment of wages and the launch of the fleet, the newspaper Clarin reported.

The total investment projected amounts to a figure between USD 9 million and USD 10 million.

Miguel Glikman, Newsan Food director, stated that part of the company will be operated by Vieira (four ships) and "the rest will be under chartering mode for four years and thereafter shall be returned to Vieira".

For his part, the firm’s president Eduardo Vieira ensured he will not hinder negotiations to recover the assets.

"We have already agreed to waive notice of any legal or administrative action," the executive declared, according to the Galician newspaper Faro de Vigo.

Related article:

- Newsan increases investments in fishing industry

By Analia Murias
[email protected]
www.seafood.media

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