Hydroelectric Project Speculation in PanamaFriday, May 28, 2010 Most of the concessions to build hydroelectric power plants in the rivers of Chiriquí were granted without paying fees, for 50 years. Sometime later, Mexican tycoon Carlos Slim entered the hydroelectricity market in Panama, offering almost $32 million for two of these concessions. This triggered a “hydroelectric fever”, with the creation of a secondary market between concessionaries and interested businessmen. $2.3 Billion in Hydroelectric ProjectsTuesday, June 16, 2009 The hydroelectric sector in Panama is a boiling pot where scores of projects are cooked, garnished with failures and speculation. Eighty-nine concession requests are pending, 43 projects have had permissions denied or canceled by the developers and another 31 projects are in different phases of design or construction. Of the $2.3 billion that all these tentative projects represent, it is most likely that only half will be eventually realized. Bajo de Mina Hydroelectric to Change ConcessionaireTuesday, November 16, 2010 The Panamanian Justice nullified the 2006 ASEP decision to remove the project given to Julius Lisac and award it in 2007 to Ideal SA, owned by Carlos Slim. The Public Services Authority of Panama (ASEP) should now stop work on the hydroelectric 85MW plant, to restore the original concessionaire, Lisac´s company. Panama cancels hydroelectric concessionsMonday, February 2, 2009 During the term of the current government some 40 requests for hydroelectric concessions, that have not complied with the development of the projects, have been canceled. Prensa.com reports on its website: "Of the 40 rejected to date, 24 have already been tendered or are in the process, said the director of Electricity at the ASEP, Rafael De Gracia. $500 million from Tocumen Duty Free TenderFriday, June 1, 2012 The administrators of Tocumen International Airport in Panama, expects to raise about $500 million from the tender for tax-free shopping areas in the South Terminal. With the tender they expect to contribute to funding the construction of the new planned an expansion of the north terminal, estimated at about $400 million, said Juan Carlos Pino, manager of Tocumen SA. Panama: Comparison Law in HoldFriday, August 28, 2009 As the government negotiates with port operators, the Assembly decided to put this law, dubbed "equiparación" in Spanish, on hold. José Blandón, from the Treasury Commission, stated that "...this negotiations could imply making modifications to the original project". Guatemala to put petroleum contract to tenderWednesday, February 4, 2009 The current exploitation contract with Perenco Guatemala will be extended for a maximum of 9 months, while the new tender is prepared. SIGLOXXI.com reports on its website: "The Minister of Energy and Mining (MEM) will extend the Contract for Emergency Petroleum Services next week, for up to nine months. This has been entered into with Perenco Guatemala Inc. since 2005. The company administers the areas known as 1.85. Outsourcing of Guatemala's Vehicle Registry TaxThursday, May 23, 2013 The Tax Authority is reviewing whether to concession the services provided by the Vehicle Registration Tax. This was announced by Superintendent Carlos Muñoz, who told a group of businessmen from the Guatemalan Chamber of Commerce (AmCham). Possible Extension for Port Concession ProcessWednesday, September 4, 2013 The Autonomous Executive Port Commission is investigating extending by one month the deadline for receiving documents from companies interested in operating the port of La Union in El Salvador. "We have a good feeling because there are four or five companies, some of the largest in the world, who have requested an extension of the deadline for submission of documents," said the manager of concessions at the Autonomous Executive Port Commission (CEPA), Carlos Federico Paredes. Possible revision of concessions in PanamaThursday, May 30, 2013 In the event that he wins the next presidential election, Juan Carlos Varela will have prepared for the audit of all the concessions granted during the Martinelli administration. Editorial Extension to Oil Contract Signed in GuatemalaFriday, July 23, 2010 The renewal of the concession to Perenco was in doubt and Germany had offered to create a compensation fund to substitute it. The contract, number 2-85, represents almost 98% of Guatemalan oil production and is unpopular among environmentalists. The extraction operations take place within the area of the Maya Biosphere Reserve, world renowned for its unique qualities and biological diversity. Award of Toll Administration in HondurasWednesday, December 12, 2012 The company Servicios Eléctricos will be responsible for the systematic service, modernization and management of the collection from toll booths in San Pedro Sula. The company will have to provide a monthly minimum of 9 million lempiras ($453,000) to the municipal coffers. Of the proceeds over this figure, 27.5% will be for the company and 72.5% for the Municipality. Guatemala: Port Concession At RiskThursday, August 13, 2015 Actions have been announced by the Comptroller General's Office to declare the contract signed in July 2012 with the Spanish International Container Terminal Quetzal as detrimental. An article on Lahora.gt reports that "... the Comptroller General of Accounts, Carlos Mencos, confirmed to La Hora that no later than next week, a group of lawyers from the company submitted to the Attorney General's Office, the documentation needed to declare the usufruct contract between the Spanish company Container Terminal Quetzal (TCQ) and EPQ, signed in July 2012 as harmful. Guatemala: Port Concession At RiskWednesday, September 2, 2015 The Attorney General's Office has recommended the onerous usufruct contract signed with the Spanish Terminal de Contenedores Quetzal be declared void. If the Executive Branch does not declare it void, as recommended by the Attorney General's Office (PGN), this entity could "take appropriate action". PGN's argument is based on "... the auditor having exceeded its functions in signing the contract. Development of Former Sherman BaseThursday, February 23, 2012 The Panamanian government has been examining the possibility of handing over the area to a master developer, as was done successfully with the area of the former Howard base. The Administrative Unit of Reverted Areas (UABR in Spanish) at the Ministry of Economy and Finance has among its available assets, the Sherman base, an area of great commercial potential. |
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