There is still no certainty as to when construction of the dock will resume, rather than being ready by the middle of this year, it will be delayed until at least January 2018.
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.
Financial problems of the Mexican company ICA, member of the consortium in charge of building the dock in Costa Rica, could be part of the reasons behind the stoppage of work on the project.
The proposed construction of an oil dock for Recope wasawarded to the consortium made up of MECO and the Mexican construction firm ICA, which since 2012 has been developing the works. The project is now 96% complete, and according to the president of Recope, Sara Salazar, the problem of non-payment, which may have led workers to stop construction, has now been resolved and work will resume in the coming days .
The funds raised in the local market will be used to finance the expansion works of the Port Terminal Petrolera del Atlantico and optimize the entity's storage capacity.
The securities auction will be held on June 14 through the National Stock Exchange, in the amount of 12.100.000.000 colones ($22.5 million) of bonds SerieA A6 belonging to Schedule A standardized bond issue.
Entrepreneurs are used to having insomnia brought on by worrying about the taxes they have to pay, which go towards paying for the permanently unfinished adventures started by civil servants who get to sleep without any problem, because they never have to be responsible for what they do.
EDITORIAL
Like Puerto La Union in El Salvador, the alleged refinery to be built in a joint venture between China and Costa Rica is fast becoming another white elephant in Central America, as it generate huge expenses but produces nothing. At least the Puerto de la Union is already built, and maybe, just maybe, someday will be used for something. Instead, the Chinese-Costa Rican refinery is still just an idea, which so far has only served to feed the pockets of officials at Soresco, the company which is supposed to build and manage it.
Maple Resources Corporation is planning to invest between $75 million and $100 million in a plant with capacity to process between 10,000 and 40,000 barrels of oil per day.
Guatemala could have its first refinery to process between 10,000 and 40,000 barrels of oil per day. The announcement was made by the multinational Maple Resources Corporation through its CEO Jack W.
Works at the Recope plant in Moin and the construction of a fertilizer plant are part of the projects for which environmental impact studies were submitted in November 2015.
The report entitled "Construction Projects in Panama - November 2015", prepared by the Business Intelligence unit at CentralAmericaData.com, provides a detailed list of major construction projects for which environmental impact assessment (EIA) were presented to the National Environmental Technical Secretariat (SETENA) in November.
The state run oil company has announced it will build a third storage tank for A-1 Jet fuel at the International Airport in Liberia.
From a statement issued by the Government of Costa Rica:
RECOPE's plant at the Daniel Oduber airport currently has a storage capacity of 10,000 barrels.
New tank will have a capacity to store 5,000 barrels.
Daniel Oduber International Airport in Liberia, recorded the highest growth in entry of international tourist arrivals vias airports in Costa Rica, according date from the Costa Rican Tourism Institute (ICT) for 2014.
The construction of the refinery El Supremo Sueño de Bolívar in Miramar, remains paralyzed as the government seeks funds to finance the second phase, the refinement complex.
At the moment, only the storage and distribution complex has been finished, works which were funded by Venezuela, but according to the agreement signed "... When oil is at $50, only 40% of that price is given in financing to the beneficiary country." Because of this, the government is seeking foreign funding for a second phase, but international conditions are not the best for resources for a project that "... does not seem to be profitable."
Costa Rica's state oil company has announced an agreement with China to incorporate into the design of an oil refinery "production of biofuels and green fuels as a fundamental linchpin of operations".
EDITORIAL
Several years ago Costa Rica became embroiled in a serious problem after signing contracts with the Chinese government and Chinese companies for the financing and construction of an oil refinery.
The Solis administration says that it is no longer an issue whether a new refinery will be built, but rather they are analyzing "whether or not it will work" doing it with China.
The government of Luis Guillermo Solis has made it clear that it believes a new oil refinery needs to be built, for which it had signed a contract with the Chinese government, who will fund the work.
The state run firm Recope has affirmed the need to build a refinery with the Chinese, citing the existence of a contract which is already being run.
Instead of focusing on strategies for renewable energy generation and opening up the energy market in the country, the authorities of the Costa Rican Oil Refinery insist on building an oil refinery, using funds from the Chinese government.
The extension of the road to Limon and the construction of a refinery in Moin, both to be funded by the Chinese government, will be renegotiated by the Solis administration.
Two major projects in infrastructure which began under the Chinchilla administration are now being analyzed by the government of Solis, due to the criticism against the conditions imposed by the Chinese government for the provision of the $395 million for the expansion of the road from San Jose to Limon.
Qatari Businessmen have announced to the Panamanian government their interest in building a refinery in Puerto Armuelles.
Panama's ambassador to Qatar, Javier Arias, confirmed that investors in that country have shown interest in building a refinery in the Central American nation.
"It's the first time Panama has looked to the Middle East as an investment partner.
The Mexican government is considering constructing a pipeline and eventually a refinery to supply the region.
Miguel Hakim, Mexican Secretary for Latin America and the Caribbean, said his country is considering building a refinery and natural gas pipeline which would cross the isthmus and would be an alternative option for generating power at low cost. Petroleos Mexicanos (Pemex), has $2 billion to invest.