Universidad Católica is making great strides towards the dream of having the most modern stadium in Chile and one of the most advanced in South America. This Monday, Cruzados reported happily on the success of the capital increase, which until Friday, June 10, raised about $11 million, a figure that far exceeded the expectations of the club and the minimum it needed to start the work. Today, the administrator that governs the football of the student team continued the advances, since he informed which will be the company that will be in charge of building the project: the construction company Cerro Apoquindo.
Through a essential fact transmitted to the Financial Market Commission (CMF), the company provided the details of this agreement with the firm. “In accordance with the provisions of articles 9 and 10 of law 18.045, relating to the securities market, and in accordance with the requirements of continuous information, we inform the financial market commission as an essential fact, that on June 13, 2022, Sociedad Inmobiliaria La Franja SpA, a 100% subsidiary of Cruzados SADP, entered into a lump sum construction contract with Constructora Cerro Apoquindo 4 SA, for the latter to be in charge of the management, administration, construction and execution of the works, until its total completion, corresponding to the ‘Modernization of the San Carlos de Apoquindo Stadium’”holds the document.
A scenario that had already been put forward by Hernán de Solminihac, director of the Cruzados and president of the Stadium committee, in an interview with Jock: “We are already quite advanced in the auction. We are in the final issues. We already have all the permits. Therefore, once we have the financing, we should already start the construction contract. And there we have to do several initial steps before physically starting the construction, but we are already very close”.
The value of the contract is significant and exceeds one million Unidades de Fomento plus VAT. In other words, it will be around 40 billion pesos, as the essential fact of the crusaders indicates. In addition, as the authorities of the quadruple Chilean football champion had anticipated, the construction period will be close to 18 months. Thus, if the San Carlos de Apoquindo stadium closes at the end of July, the new modernized enclosure should be operational in early 2024.
“The price of the contracted works is 1,015,209 UF plus VAT. The deadline for the complete completion of the works under contract, until their total completion and the granting by the Contracting Authority of the certificate of provisional acceptance of the works, is a maximum of 540 calendar days from the signature of the contract. Minutes of the Start of Works’ »closes the letter signed by Juan Pablo Pareja, general manager of Cruzados.
The cost of the works is practically equivalent to what telecommunications company Claro will pay Universidad Católica in 20 years, an amount that reaches 965,000 UF plus VAT, according to the naming rights agreement, which was announced last February. An economic model that has few examples at the national level, but is common in the United States and Europe, for example.
On another side, The Cerro Apoquindo 4 construction company is not unknown to Universidad Católica, since recently, in 2021, it built the new Deportes UC San Carlos de Apoquindo building, with an area of 14,500 m2. Now he will have another ambitious project for the fringe club in his hands.
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