Consortia Interested in Baru

Investments could take the form of a refinery, a logistics center and tourism projects in the Caribbean zone of Panama.

Wednesday, January 25, 2012

Three foreign consortia have expressed interest in settling in the free zone of Baru, Chiriqui Province, to build a logistics center, a refinery for processing hydrocarbons, and a tourist center, taking advantage of the Baru area’s geographical position, as well as the pipeline which can transport oil from the Caribbean to the Pacific and vice versa, said the Minister of Commerce, Ricardo Quijano.

The minister did not disclose names or amounts, but said he hoped that a contract will be signed by one of the companies, according to an article in Prensa.com.

"The last attempt to install a refinery in Baru sank after the Canadian company Occidental Petroleum lost its concession to drill for oil in Ecuador, from where it would have imported the crude oil to be processed in Panama", added the website.



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