Construction of refinery in Nicaragua fades

After the Venezuelan president placed the cornerstone and there were some movements of dirt, the project seems to have been abandoned.

Tuesday, December 2, 2008

The $250 million that Venezuela supposedly approved at the end of last year to start the first phase of the project at Piedras Blancas in the municipality of Nagarote, appears to be literally a "dream", despite the fact that officials from the governments of Nicaragua and Venezuela had announced with fanfare that the project, known as "the Supreme Dream of Bolivar", would be completed in four years, starting in January 2008.

At the end of December last year, the president of Petronic, vice president of Albanisa and FSLN treasure, Francisco Lopez, announced from Havana, Cuba, that Venezuela had approved $250 million to start the first phase of the construction of the refinery and a petrochemical plant. The total investment was estimated at $4.5 billion, and the project should have been completed in four years, that is, in 2012.

On January 15 of this year, END visited the site at Piedras Blancas and confirmed that there were heavy equipment working at the site. Said equipment, according to government sources, were removing dirt for the first phase of the construction of the refinery, which also includes the installation of ..

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