Corporación Financiera de Inversiones, owned by Grupo Pellas, has confirmed acquisition of the bank.
Representatives from Corporación Financiera de Inversiones announced that they will be expanding the business model of Procredit, which up until now had been focused on the segment of small and medium enterprises.
The new terminal in Tola, Rivas, is now receiving private flights and it has been announced that on November 14 it will begin commercial operations with Sansa and La Costeña.
The airport built by Pellas Group is part of the tourist resort at Guacalito Island, also owned by the business group, which announced plans to extend the runway to give it a a length of 2100 meters in three or four years, which will require an investment about $10 million.
It has been announced that a new air terminal will start operations in November to attract more tourists flying from Managua and from Liberia, Costa Rica.
The airport, which is part of the luxury tourist resort Guacalito Island, is a project by the same company, owned by the Pellas family. Vanessa Vivian Pellas told Elnuevodiario.com.ni that the opening will be in November, "...
The Coastal Act passed four years ago encouraged tourism and real estate development in the Pacific.
Businessmen claim that the legal certainty provided by the legislation has resulted in more tourism and real estate projects in coastal areas, but there are still a lack of incentives for investment in projects in the Caribbean.
Leading Nicaraguan entrepreneurs continue to support the model of economic negotiation with the government.
"Everyone here is free to move, the press is free to speak and I think from that point of view we are living in an open society," said the businessman Carlos Pellas, president of Grupo Pellas.
Entrepreneurs like Carlos Pellas and Piero Coen agree that the "understanding with the Government has brought economic growth."
With an investment of $48 million, three new hotels will be built in Nicaragua, adding 500 rooms.
Along with construction of the Whyndam Milagro del Mar, launched on Thursday, February 21, the 145-room Hyatt Place and a new 105 room Holiday Inn will also be built.
"In the eighties Ortega and his cronies harassed private capital and reaped a great economic downturn. Now they are being treated better and the country is running better."
An article by Humberto Belli Pereira in Laprensa.com.ni discusses the symbolism of the Guacalito Island project, in a country ruled by a leftist party whose members, at some point, postulated the most rancid anticapitalist concepts.
Grupo Pellas has estimated that this will be the number of jobs generated once the project becomes operational.
The Guacalito Tourism Project, which is being developed by the Pellas Group on Nicaragua’s Pacific beaches will be inaugurated at the end of next year, company representatives announced.
With an undetermined investment amount, Nicaragua's Grupo Pellas has taken over the Chabil Utza Mill at Alta Verapaz and proposed its revival.
Miguel Maldonado, the general manager of Chabil Utzaj, told Siglo21.com.gt that the new administration will be composed of Guatemalans who have extensive experience in the sugar industry.
In the end it was not the Pellas Group that saved the newspaper, but Ramiro Ortiz Mayorga, an entrepreneur who has signed an agreement on funding.
The financial and economic crisis in El Nuevo Diario seems to have found a solution, at least for now. The fate that could have befallen the online newspaper opposing the Sandinista government had caused serious concern because of the imbalance that would have occurred in the media, seeing as the most interested in acquiring the paper was an economic group closely akin to the government.
Businessmen injected $1 million to meet the newspaper’s most urgent debts.
Contrary to what is believed, the group of investors are not linked to the family of President Ortega, or members of the Sandinista National Liberation Front but are private entrepreneurs.
Pellas Group begins construction of first phase of Guacalito Island project.
Located in the municipality of Tola, Rivas, in the Pacific coast of Nicaragua, it will stretch for some 650 hectares.
The first phase of $ 115 million includes construction of a boutique hotel with 35 rooms, the installation of basic infrastructure (power, ground water treatment, cable telephone and fiber optic), residence areas and golf course.
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