Under the contract, US-based Caterpillar acquired two building lots in Howard for a total of US$6.75 million. Caterpillar plans to build a laboratory on one of the lots for lubricants for machinery made by its subsidiaries, as well as a training center and a showroom for its construction equipment.

Source: Prensa.com

More on this topic

135 Firms Now in Panama Pacific

July 2012

The amount of investment by companies that have begun operations in the former Howard military base, now Panama Pacific, is estimated at about $300 million.

An average of four companies per month are registering to operate in the area. The latest companies to arrive are BASF Panama, Kio Networks y Telered S.A.

Panamá Pacífico to Invest $345 Million in 5 Years

August 2010

In the next five years, London & Regional, the company in charge of the master planned development (MPD) will manage $345 million worth of works.

Olmedo Alfaro, general administrator of the Panama-Pacifico Special Economic Area Agency (AEP), highlighted that, “in these five years, more than $300 million will be invested representing a switch from the planning to operational phase for Panama-Pacifico”.

Caterpillar Invests $25 million in Training Center

March 2009

The multinational construction company started building a training center for the entire continent in Panama.

According to statements from Martín Torrijos, President of Panama, in an article by AFP in mipunto.com, the new center will create about 500 jobs and represent an investment of $25 million.

Caterpillar to install regional HQ in Panama

May 2008

Caterpillar has acquired 100 hectares of land on Panama's Pacific coast at a cost of 6.7 million dollars to set up a regional headquarters for Latin America.

Representatives of Caterpillar and the Panamanian government signed the sales contract Tuesday for land in the Panama-Pacific Special Economic Area.