The contracts for the construction of a port and container yard in Isla Margarita, township of Cristobal, in the province of Colon, were approved on the second reading.
The full National Assembly approved on its second reading draft laws No.
The company Melons Oil Terminal Inc will operate and manage a Fuel Free Zone capable of storing 2 million barrels of oil.
A press release from the Presidency of Panama reads:
The Cabinet Council has authorized the Minister of the Presidency on behalf of the State to finalise a contract with the company Melons Oil Terminal Inc., for the operation and administration of a Fuel Free Zone capable of storing 2 million barrels of oil .
The company, a supplier of bunker fuel for tanker ships, will invest in expanding its facilities during the next 12 years.
The announcement was made by Guillermo Márquez, company representative, after the corporation signed an agreement with the Panamanian State to extend its concession at Isla Tabogilla, in the Pacific coast.
AMP approved two of the four concessions that it was assessing yesterday, leaving two pending a resolution.
The Panamanian Maritime Authority (AMP) authorized the award of more than eight hectares to the Decal S.A. Company to build and operate a dock on the island of Taboguilla for fuel transshipment and also approved a five acre concession for Miramar Development Corp. to build a tourist marina in Avenida Balboa.
AMP will consider today whether to grant the concessions requested for the Panamanian coast and ocean floor.
Among the concessions sought from the Panamanian Maritime Authority (AMP) are one for marine tourism and the other for the construction and operation of a dock for transferring fuel to ships.
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