Thermoelectric Plant for $1.3 billion

An environmental impact study has been submitted in Panama to develop a power plant based on liquefied gas in Cristobal, province of Colon, with total power of 762 MW.

Monday, January 4, 2016

The Environmental Impact Assessment (EIA) submitted to the Ministry of Environment in October 2015 by Gas Natural del Atlántico S. de R.L., indicates that the development called "Proyecto Costa Norte", will be located in the province of Colon, district of Colon, department of Cristobal.

The area where the project is to be developed is part of the area given in concession by the Panama Maritime Authority (AMP) to Panama Ports in 1997, which expires in 2023. Panama Ports in turn has given the land to the project sponsor in the form a lease for the lifetime of the project according to the lease contract.

The land is bordered on the north side by tanks and a dock belonging to the company Telfer, and contains storage tanks and a fuel supply. The southern section borders unused land and forms part of the concession held by Panama Ports. The east side borders tanks owned by the company Petroports and on the west meets the Atlantic entrance of the Panama Canal and Manzanillo Bay.

The total amount of construction estimated for the Costa Norte project amounts to 1300 million dollars (B / .1,300,000,000.00) for the construction of the terminal and the first 381 MW power plant, and the subsequent construction of the second 381 MW plant (Central Espejo), respectively, according to the following preliminary details:

- Terminal: $400 million
- Central 1, 381 MW: $450 million
- Central 2, 381 MW: $450 million

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