The company behind the project, M4 Combustibles, says the fuel is 90 percent ehtanol; the rest is gasoline and a company formula.
Porfirio Ellis, managing director of M4 Combustibles, said technicians would soon be coming to Panama from CVI, a Chicago-based company that will build tanks to store Brazilian ethanol that will form the basis of the fuel.
The country's ethanol producer has stopped supplying the additive to fuel distribution companies.
Extract from resolution 2188 issued by the National Secretariat of Energy and published in the official newspaper of Panama, La Gaceta:
....that the company Campos de Pesé SA, the only company producing anhydrous ethanol used for blending with gasoline, has suspended sales of this product to importing companies - distributors of fuels, which creates a situation of shortage of anhydrous ethanol for blending with gasoline.
President Ricardo Martinelli has announced that concessions for prospecting and exploring oil and natural gas will be awarded before the end of year.
Laestrella.com.pa reports that "The President addressed the issue when speaking about the interest that his administration has in getting more companies interested in investing in the production of sugar and ethanol in Panama."
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