The new regulations for investment funds in Costa Rica allow for finances to be raised for construction, energy, transportation and public infrastructure projects.
The amendment to the General Regulationon Managing Companies and Corporate Investment Funds was adopted on 23 June. With this change, any investment project, from theconstruction of houses to hydropower stations, can be financed and developed using a special investment fund which will be known as Infrastructure Project Investment Funds.
In Costa Rica entities such as municipalities and school boards have a maximum term of two years to complete the works for which they have received government funding.
The new Law on Efficiency in the Administration of Public Resources, which will enter into force once it has been published in La Gaceta, requires entities that receive government funding to implement projects within two years.
In Costa Rica the scarce inventory of public works projects and reduced activity in the agro industry is affecting sales by distributors of construction equipment and agricultural machinery.
Data from the latest report on the economic situation recorded an annual fall of 3.5% in activity in the construction sector and 0.20% in the agricultural sector. This data explains the discouraging results in machinery distribution companies, which have been slow since 2015.
A contract has been awarded in Panama to Ingeniería Rec, SA for studies, design and construction of a building project with infrastructure called "Urbanization San Antonio" in the province of Veraguas.
In the tender for the supply of materials, labor, equipment and administration for studies, design and project construction of buildings and infrastructure for the "Urbanización de San Antonio" project located in the village of San Antonio, district of Atalaya, province of Veraguas, the company INGENIERIA REC, S.A. submitted a bid of $65.8 million, which competed with proposals from CONSTRUCTORA MECO, S.A., CONSTRUCCIONES CIVILES GENERALES S.A., ASINCRO PANAMA CORPORATION and that of Constructora San José (Panama Branch) S.A., who bid $66.9 million, $62.3 million, $58.1 million, and $56.2 million respectively.
An $25 million investment has been announced in four roads in the country including 10 additional kilometers to the Tecpan-Chimaltenango-El Tejar route.
The Government of Guatemala will be investing Q200 million ($25.8 million) in four road projects, said Aldo Garcia Morales, Minister of Communications, Infrastructure and Housing (CIV), in remarks published by Agn.com.gt.
Three years after the first attempt, the government has announced that the railway project estimated at $200 million will be tendered in 2017 under a public-private partnership scheme.
In 2013 the National Agency for Partnerships for Economic Infrastructure Development (ANADIE) had tried to tender the design and construction of an urban passenger train and a railway terminal, however, it never materialized. Now the government of President Jimmy Morales has taken up the project under the same scheme of a public-private partnership, only evaluating the work at $200 million and not $350 million as projected previously. Diario de Centroamerica reported that the initiative will be presented to Congress.
Preparations are being made for a tender to be launched in April for the design and construction of production roads from El Pepino - Ciricito - Los Cedros del Lago - El Congo, in the province of Colon.
In Costa Rica an order has been given to suspend construction of a supervision contract awarded to the state run power company for a road building project, because it is considered outside of its normal tasks.
The confluence of interests within the Costa Rican state bureaucratic corporation has allowed for institutional nepotism, by means of direct contracts between state agencies, to be thought of as beneficial to the interests of society. It is in this way that impediments are created to private companies being awarded public works contracts.
Constructora Celaque is a leader when it comes to construction of civil projects and mining in Honduras with more than 15 years of experience.
Operates in Honduras and Honduras
Phone: (504) 2239 6794 - (504) 9905 7845
Armstrong Equipment, Inc. is an American based company that specializes in the distribution to Latin America of equipment and parts used in the mining sector, rock crushing and asphalt paving.
Operates in Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua and Panama
Phone: (305) 592 8361
DICCOC is a consulting and accredited inspection (ECA OI-016) company, with vast experience in the field. Since 2008 has inspection contracts with the state costarricense.
Operates in Costa Rica
Phone: (506) 2244 7570 - (506) 8857 9320