The Altara El Tucano project has stopped paying its investors and is to execute the Guarantee Trust.
After the deadline of 30 working days provided to the settlor Altara The Tucano to provide the resources to pay obligations owed to the trust, the administrator, Scotiabank announced the execution of the guaranty for non payment.
"The trust was created to issue bonds to finance the purchase of the Hotel El Tucano, located in San Carlos , Alajuela.
Marina Vista Mar Group is to invest $6.5 million in the construction of a marina in La Ensenada de San Carlos with 150 berths.
From a statement by the Cabinet of the Government of Panama :
"The Cabinet Council has approved a Cabinet Resolution which gives a favorable ruling on holding a Concession Agreement between THE STATE, through the Panama Maritime Authority (AMP) and the company MARINA VISTA MAR GROUP, S.A., which will invest 6.5 million dollars in it.
Guatemalan Entrepreneurs are asking for the consultations with communities about the environmental impact of mining and infrastructure projects to be regulated.
The Guatemalan Chamber of Industry (CIG) and the Union of Extractive Companies (GEE) has proposed the creation of a regulation governing community consultations, believing that these should be one more indicator in the approval process, and should not be binding in nature.
The event organized by Latin Markets will be held in Panama from 28th to 29th of January 2014.
The event, organized by Latin Markets, will include the participation of 60 experts in the field, who will talk about how companies can participate in the development of dozens of key infrastructure projects in the region.
Participating employers will have access to more than 300 executives and experts in the subject through business meetings with companies involved in the industry.
INJUPEMP of Honduras plans to invest in building the Patuca III Hydroelectric Project.
This was announced in a statement put out by the institution. Patuca III is being constructed in the department of Olancho and will generate 104 MW of energy.
Andres Torres, executive director of INJUPEMP, is currently holding talks with officials from the National Electricity Company (ENEE) with whom he will define the issues of investment in energy projects.
The proposal is to use national domestic savings to finance long-term profitable infrastructure projects such as hydroelectric stations.
Laprensa.hn reports that "energy projects, such as hydroelectric plants, have become an alternative to generate returns on the savings managed by pension institutes, according to a recent study by the National Banking and Insurance Comission (CNBS)."
The government intends to invest $2.57 billion during the period, nearly double than between 2009 and 2012.
In transportation infrastructure, $623 million has been set aside for intermunicipal road renovations, $61 million for improvements to the Nejapa-Santa Rita-Puerto Sandino highway, $24 million for the La Paz-Maipaisillo highway and $23 million for covering 310 kilometers of other roads.
NanYang Footwear is to invest $3 million in the country to produce footwear and export it to other markets.
From a press release from the Presidency of El Salvador:
The Taiwanese company engaged in the manufacture of footwear NanYang Footwear, in a clear commitment to El Salvador, started operations in the country by establishing and expand its subsidiary in the country under the name of ADI FOOTWEAR SA de CV, with an initial investment of $1.5 million, plus plans to invest an additional $1.5 million and carry out an expansion which will generate more than 1,000 new jobs over the next year.
Investors from China, England, Peru, Brazil, Canada and the USA are waiting for the outcome of the general election before risking investing in mining projects.
Laprensa.hn reports: "The long wait for the country to have a mining law that is in line with the current situation has had an impact on the arrival of new investments, all of which are dependent upon the results of the November general election to define their situation ".
The infrastructure and road network built with funding from the Millennium Challenge Corporation should be the focus of new development projects in the area.
An article in ElSalvador.com reports that Jose Angel Quiros, former executive director of Fomilenio, said "I have no information on new projects in the north, but without a doubt thought must be given to how to maximize that infrastructure and road network for the country's productive sectors ... the region's strategic programs north of the country, carried out with the first funds from the Millennium Challenge Corporation (MCC) between 2009 and 2012, must be diversified and enhanced with new works. "
It has been two months since the Investment Summit 2013 was held in Guatemala and two investment projects have materialized totaling $109 million.
These are the construction of a hydroelectric plant in Rio Hondo, Zacapa, capable of generating 32 MW and a mushroom production plant in Salcajá, Quetzaltenango. What is more, during the next three years it is expected that another $225 million will be generated in new projects, making a total of $334 million.
The complicated Honduran political and institutional climate is creating confusion about the role of the Commission for the Promotion of Public-Private Partnerships.
In an article in Laprensa.hn, Jose Antonio Pineda, president commissioner of the Commission for the Promotion of Public-Private Partnerships (Coalianza), when asked if "Coalianza, concessions, sells or privatizes?", responded that "we do not really do privatization because it involves transfer of assets or property of the State to private companies. We do not do that. Assets such as ports, roads, and airports always belong to the State. We form a public-private partnership (PPP) contract, where a private company invests capital in institutions, as these do not have capacity to invest themselves. It allows the investor to manage it for a period of time in order to be able to recover their investment. "
At the opening of the Guatemala Investment Summit the country was presented to 259 entrepreneurs from 26 countries as an attractive investment destination.
In addition, another 1,000 people attended the event which organizers say is the largest activity for attracting investment which has been held so far in Central America. "This event is the most important for investment promotion in the region.
The National Telecommunications Fund plans to develop seven projects in the areas of education, social welfare, health and homes, which will feature, for the first time, internet and telephone services.
According to the Telecommunications Superintendency (Sutel), there are a total of 477 schools, 78 colleges, 155 Ebais (health centres), 25 Cecis and 70 CEN- CINAI which will be connected with a speed of 4 megabytes.