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Latin America Investment News on Viva Tropical

Billion Dollar Investments Could Determine the Future of Caribbean Limon, Costa Rica

Article Summary:

Projects with over a $ 4 billion price tag are in the works for Limon, Costa Rica. Investments include ports, refineries, electricity plants, free zones and housing units.

Photo Credit: Prensa Escrita

Original Article Text From Prensa Escrita via Google Translate :

Works for almost $ 4 billion for the Caribbean

Investors are seeing in the Caribbean shore to dock.

Projects for about $ 4 billion are pending at this time in order to settle in the province.

Developments include ports, refineries, oil and electricity works, free zones and condominiums.

The origin of capital is as diverse as America, China, Holland, Spain and nationally. The projects on the horizon are both private and public.

For Lemon, who suffers poverty and unemployment levels above the average, the flow of investment represent social and economic improvements. Only covered the announcement that three major works would rise in the Caribbean to see more investors to the province forward.

These are the container port, the hydroelectric plant Reventazón and expansion of the refinery crude oil derivatives.

The first work promotes triple the capacity of the state refinery in Limon to process 100% of fuel consumed in the country. Will be developed by a partnership created between Recope and China National Petroleum Company International-owned oil company Chinese Government at a cost of $ 1.2 billion.

That same investment is planned to build the power plant Reventazón, which has launched the Instituto Costarricense de Electricidad in Siquirres. This power complex of 305 megawatts, will become the largest installed capacity of Central America.

The third major project is the port specializing in the care of Moin container, which measured 1.5 kilometers and will have 13 cranes.

The Dutch APM Terminals is the company behind this work, promising to invest $ 1 billion.

We only have the backing of the Comptroller for the project see the light. Behind these megaconstructions other investments are lower for Limon. Among them two oil projects that are starting this year, driven by the Costa Rican Oil Refinery.

One is the expansion of the oil terminal located in Moin, whose construction was awarded to the company ICA-Meco for $ 96 million.

It is also about to begin the installation of a liquefied gas storage, which will make the Spanish company Felguera IHI. For his part, even with slow progress, the draft City Puerto Limon, promises to invest $ 80 million for development works in the Caribbean.

Among the works covered by this plan highlights a commuter train, a way to clean dirty water, restoration of historic buildings, boulevards and a museum and amphitheater.

Additionally, the Venezuelan company Isiven announced the construction of a park in Buffalo multimodal Lemon, who operate under the free zone regime.

These facilities will offer 100 lots for industrial use, and a hotel. Where live the executives of new companies that come to Limon. That question was made by the partners of the Calypso Developments and their response was to build a condominium in Limon.

Park condominium presales went on last week and is a project of 200 luxury apartments. Among the investments could not miss a new hotel in downtown Limon, driven by a local investor.

The Atlantic is the second region with the highest unemployment in the country, for 8.1% of the population is unemployed, figures that exceed the national average of 7.3%.

Because they generate about 5000 jobs, the works that are underway will help reduce the unemployment gap.

Link to Original Article:

From Prensa Escrita

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