TGS jointly with SACDE applied for the public tender launched by the Argentine Government for the construction of a connection pipeline in the province of Santa Fe. This tender was finally obtained by the UT whose sole purpose is the execution of such works that would extend until December 31, 2018. For further information, see Note 22.
The Company participates in the UT in a percentage of 51% on the rights of the assets and on the obligations related to them. TGS consolidates line by line assets, liabilities and results of the UT based on the aforementioned percentage of participation.
The breakdown of the amounts included in the statements of financial position related to the Company’s participation in the UT and its results as of December 31, 2017 is the following:
| | | 2017 | |
Consolidated Statements of financial position | | | |
Non Current assets | | | - | |
Current Assets | | | 67,705 | |
Total Assets | | | 67,705 | |
Non Current Liabilities | | | - | |
Current Liabilities | | | 67,544 | |
Total Liabilities | | | 67,544 | |
| | | | | |
Consolidated Statements of comprehensive income | | | | |
Gross profit | | | 540 | |
Operating loss | | | (17 | ) |
Net Financial results | | | 153 | |
Comprehensive Income | | | 135 | |
