Auction of 3,500 acres of Former Coosemupar

In the evaluation of the bids the potential generation of jobs by the project using the land will be taken into account.

Monday, June 3, 2013

The funds acquired through the sale of the 3,500 hectares will be used to pay more than $17 million of the debt belonging to the cooperative with the Social Security Department.

Although there is no date for the auction of the land by Cooperativa de Servicios Múltiples de Puerto Armuelles (Coosemupar), the director of the Panamanian Autonomous Cooperative Ana Giselle Vallarino said that the money to be paid to the CSS corresponds to nonpayment of worker-employer quotas during the time when the Coosemupar was active.

According to Vallarino, even when this payment is made, they will still be owed about $800,000 from the company Union Fenosa and $15 million from some providers.

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More on this topic

Third Attempt to Auction ATLAPA

October 2013

With a base price of $82 million, on November 12 there will be another attempt to sell the 55,000 m² convention center.

The Ministry of Economy had set the value of the property at $124 million, however, the Public Procurement Act provides that after two failed attempts it may make a third call, but the reference price will correspond to two thirds of the original reference price, ie $82 million.

No Buyer for Convention Center

September 2013

The auction of the Atlapa convention center received no bids therefore a third attempt will be made with base price of $82 million.

No companies showed interest in the auction conducted by the Tourism Authority of Panama (ATP). It is estimated that the value of the land is $124.5 million.

Chiquita Brands Wants to Return to Panama

June 2013

Both Chiquita and Del Monte are participating in the auction of 3,100 acres that were part of the former grounds of the now defunt Coosemupar

Both companies are in talks with the Government and former employees of Cooperativa de Servicios Múltiples de Puerto Armuelles. A report by Ana Giselle Rosas de Vallarino, executive director of the Panamanian Autonomous Cooperative (IPACOOP) has revealed that with the money from the auction, the government will have to pay $17 million as payment of the worker-employer fee and other debts to suppliers .

Panama: Companies Interested in Coosemupar

November 2009

5 Companies have expressed their interest in investing in Coosemupar, to rescue it from its current crisis.

The announcement was made by Ana Roasas, director of Ipacoop (cooperatives authority), adding that several proposals are being studied.

"...agricultural experts consider that the lands have potential for other uses aside from planting bananas", reports Laestrella.com.pa.

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