The Mexican state oil company PEMEX has announced investments of $1,4 billion in pipeline for natural gas, propane gas and gasoline, and logistics and port facilities in the Isthmus of Tehuantepec, 200 km from the border with Guatemala.
From a statement issued by PEMEX:
Pemex presents its Marketing Strategy for the Transístmico Energy Corridor
The Government is welcoming Korean investors in order to hold the first meetings regarding the project.
Investors represent Dongmyeong Enginering (DMEC) and Ox Investment Finance Co., which last July signed a Memorandum of Understanding with the Government for the construction of a deepwater port at Monkey Point.
"During the meeting, financial aspects of the loan to complete the project will be discussed, the president of the National Port Company, EPN, Virgilio Silva, stated on Monday, adding that among the issues addressed are interest rate and payment deadlines for the $ 500 million credit,” published El Nuevo Diario.
The Port of Monkey Point could be the first stage in a project that includes an oil pipeline, a coast-to-coast train and the expansion of the Port of Corinto in the Pacific.
Two South Korean companies signed a memorandum of understanding in July with the country's National Ports Company (EPN) regarding the expansion of the Caribbean Port of Monkey Point.
The Nicaraguan inter-oceanic canal company (CINN) has expressed an interest in renewing its involvement in the ‘dry canal’ and port project.
In the 90s the company sought permission to build a ‘dry canal’ railroad to link Caribbean and Pacific ports in Nicaragua. This project included the construction of the port at Monkey Point and a railroad connecting it to another port on the Pacific coast.