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Technical Proposal, a Hefty Investment for Waterloo

Jul 6, 2023

Technical Proposal, a Hefty Investment for Waterloo

Luis Prieto y Munoz

Despite its proposal being rejected twice, Waterloo says that it is important to note that a significant amount of money has been invested by the company in pre-development activities, hiring the best and most experienced technical experts to put together a comprehensive plan that exceeded the requirements of NEAC.

Luis Prieto y Munoz, Piedroba Consulting Group

“A huge amount of capital was invested in this pre-development effort and that capital was predicated on the assumption that we would be given a legal review and that we would be either approved or denied on the merits of the project, nothing else.  So this would be due process.  That wasn’t the case.  All the monies that were spent on this project was just wasted and all the effort that we went into, every dollar spent was a dollar spent to pursue the approval of the project and to pursue a development that was beneficial for the developer and for the country.  And that wasn’t the case, so certainly, being made whole on that front would be an important element, and beyond that, we think it is important just for the sake of the efforts that were put forth that these approvals, that all of this be evaluated within the context of how it was approved, that questions get asked, that somebody consider that how is it that these two projects went through such completely different approval paths and how is it that that came to be.  And once all those questions are answered and when all of this comes to light and transparency is shed on it, then we think that appropriate action should be taken.”

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