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 ...

More on this topic

Nicaragua: Refinery Project Unfunded

February 2015

The construction of the refinery El Supremo Sueño de Bolívar in Miramar, remains paralyzed as the government seeks funds to finance the second phase, the refinement complex.

At the moment, only the storage and distribution complex has been finished, works which were funded by Venezuela, but according to the agreement signed "...

Nicaragua: Law to Build Refinery

September 2012

The National Assembly has approved a $ 6.5 billion project that includes a refinery and an interoceanic pipeline.

Investors are assumed to be the government of Venezuela "and other partners" in a project that has no definite dates for implementation and which aims to supply 40% of the consumption of refined fuels from the Central region.

Start of Works Announced at Nicaraguan Refinery

October 2011

The president of the company Alba de Nicaragua S.A., has announced that by the end of the year contracts will be signed for the construction of the first phase of the project.

The project in Nicaragua, which has been delayed for years, will provide capacity to process about 150,000 barrels a day, said Rafael Ramírez, Minister of Energy and Petroleum of Venezuela during the Petrocaribe VII Ministerial Council held in Managua, Nicaragua.

Nicaraguan Refinery Studies Presented

April 2009

It was announced that the Supremo Sueño de Bolivar (Bolivar’s Ultimate Dream) refinery will now be located on the Miramar coast and not in Nagarote.

The industrial petroleum complex project still has feasibility, environmental impact and viability studies pending.

According to Laprensa.com.ni, the president of Albanisa, Rafael Paniagua, said: "We have the location for a complex that would include the refinery and a port and it has 800 hectares in total. We are in the visualization phase of this project and the investment that we are going to make is on a loan basis under the terms of the Bolivarian Alternative for the Americas (ALBA).”

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