With funds from the IDB managed in a trust by Banco Nacional, the Ministry of Education will build new schools.
Banco Nacional (BN) will be responsible for managing a trust worth $167.5 million to be used for the construction of 79 schools and 24 recreational areas. The loan was granted by the Inter-American Development Bank (IDB).
The only thing now pending is approval from the Attorney General of the Republic for the start of construction, which it is hoped will start in the middle of the year.
The project for expansion of sewerage systems in the Greater Metropolitan Area of San José projects works worth $200 million to be tendered in 2014 and 2015.
A third of the funds available for the Project for Environmental Improvement of the Metropolitan Area of San José (PMAASJ) has been invested in various works. According to the reports from Acueductos y Alcantarillados (AyA), of the $344.01 million making up the total project $100.2 million has been used.
Banco Nacional de Costa Rica has earmarked part of the $1 billion it raised in foreign markets for energy and infrastructure projects.
In the next few months Costa Rica's Banco Nacional (BNCR) will provide $300 million for hydropower and wind projects. Another $400 million will be used to refinance short term credit lines with foreign banks and the last $300 million will stay in an account abroad awaiting other interesting projects, explained the manager of the company, Fernando Naranjo.
The National Convention Centre will require an investment of about $30 million.
Of this investment, $27 million will be for the facilities themselves and $3 million for the provisioning of the project, said the Minister of Tourism, Allan Flores.
"The convention center will be built on an area of 10 hectares that the Comprehensive Agricultural Marketing Program (PIMA) has given in administration for 25 years, extendible, to the ICT.
Total P.E.T. Packaging has obtained a loan for $8.5 million from Banco Nacional for the New World Recycle company, which will build a PET recycling plant in the province of Cartago.
A statement from Total P.E.T. packaging reads:
Banco Nacional and New World Recycle sign loan agreement to build a PET bottle to bottle recycling plant
- Between 750,000 and 1 million plastic bottles per day will be recycled instead of polluting the environment.
- The new RPET resin can be used up to 100% in new containers.
The National Institute of Housing and Urban Development has announced the creation of a trust to finance housing for middle-income families.
According to an article in Nacion.com, the new CEO of the National Institute of Housing and Urban Development (INVU in Spanish), Alvaro Gonzalez, said three lots are available in the province of San José, where the plan is to build high rise condominiums, and another in the province of Guanacaste where blocks of houses will be built.
Banco Nacional de Costa Rica is putting out to tender the construction of a building for the Liberian branch and site for the regional management of Guanacaste Puntarenas.
The specifications state:
The renovation work to which this contract relates will be made at the site of the current Liberia Branch and Regional Management of Guanacaste Puntarenas, National Bank of Costa Rica, three hundred (300) meters east of the main entrance to Liberia.
The project consists of a specialized port for the transshipment of containers with an operating area of 45 hectares, and a cost of $950 million.
A press release of the Presidency of the Republic of Costa Rica reads:
Vice President Liberman stressed the importance of getting "the green light to start the tender process, which will generate more employment in the country, mainly in the port area"
The National Bank of Costa Rica (BNCR) has put out to tender the construction of a new building in Naranjo.
The new structure will be located on land owned by the National Bank, situated in the canton of Naranjo, Alajuela province, across from the southwest corner of the park.
The contract comprises all the works necessary for the construction with the full scope described in the construction plans and specifications prepared by the consulting firm CONSULTECNICA S. A.
Three new convention centers will open within the next three years.
With an investment of $30 million, a project promoted by the Instituto Costarricense de Turismo, to be built in Barreal de Heredia. is expected to completed by the first quarter of 2014.
For his part Fernando Poma, Vice President of Real Hotels & Resorts (operator of the Intercontinental Hotel chain), will announce the start of construction of a facility with a 2,700 person capacity, in Guachipelín of Escazú this July.
Costa Rica's state-owned bank "Banco Nacional" put in place a trust to build the critical care area of the Children's Hospital.
Authorities are working on the technical specifications of the new complex, known as "Torre de la Esperanza", and expect to have them ready by June. After this, they will invite companies to bid on designing the blueprints of the facility.
The new regulations for the operation of public work trusts contains provisions which make the process too cumbersome.
Meanwhile, only in Banco Nacional (BN) and Costa Rica (BCR), projects which are held up due to approval for funding through trusts reaches $ 2,760 million. The projects being held up are construction of public works.
The article by Juan Pablo Arias of Nacion.com stated that "the initiatives were stopped when the Superintendent of Securities determined in May 2009 that new regulations were needed to delineate this type of operation."
6 public investment projects, including infrastructure and telecommunications, are ready to be securitized by Banco Nacional.
According to Nacion.com, "Juan Carlos Araya, deputy manager of the Bank, said the six initiatives have already been approved by the Comptroller General of the Republic, and only need to adjust the prospects of new regulations."
The first contract for $15 million was signed for the construction of the Customs Office in Peñas Blancas to be inaugurated in late 2009.
The $15 million are part of the trust for $115 million from the Ministry of the Treasury and the National Bank of Costa Rica. The Trust also includes the construction of a Customs Office in Paso Canoas, and Ciudad Hacendaria (Treasury City), an office complex of four hectares that will be located in Calle Blancos."