Initial plans were that Recope's oil dock, which will allow larger vessels to dock, would be ready by the middle of this year, but it is now estimated that it could be completed in early January next year, due to problems that arose during the construction process, which is being run by the consortium ICA-MECO.

"... Progress on this port in Limon stopped at the beginning of March, because the consortium stopped paying salaries to almost 150 workers, when only 3% to 4% of the work was left to be completed, after five years of construction work and a decade of planning. Recope learned of the difficulties with the works at the end of February, when the Mexican company ICA, which is the wholesale partner of the construction consortium, with 70% of the shares, was revealed to have financial problems. MECO has the remaining 30% of shares."

Nacion.com reports that "...The current stagnation of works and the consortium's financial problems derive from the crisis facing the construction company Ingenieros Civiles Asociados (ICA) in Mexico. Financial reports and press releases revealed the situation. From February 24 to March 8, for example, the ICA shares fell by 33% on the Mexican Stock Exchange."

Source: Nacion.com

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