Keith Woolford Posted June 7, 2017 Share Posted June 7, 2017 Chinese Group Starts Construction of 900 Million dollar Port in Colon EFE | 6 Apr 2017 06.43pm The Chinese group Shanghai Gorgeous starts this Wednesday, the construction of a container port in the province of Colon, on the Caribbean coast of Panama, a project that requires about 900 millions of dollars in investments The laying of the first stone of the project "Panama Colón Container Port" will be held in Margarita Island, in Columbus, about 80 kilometers from the capital, in a ceremony where senior executives of the group of Chinese investment are expected to attend.. The project consists in the development, construction, operation and management of the container port, which will have 12 cranes and capacity to handle 2.5 million TEU (20-foot containers a year, according to the data provided by group. The CEO of Shanghai Gorgeous in Panama, Kenneth Zhang, told Efe last April that the project expects to generate 800 jobs during the construction of the port, while others "1,000 direct jobs" will be required for its operation. "An indicative, this type of industries has a multiplier effect through which generate three indirect jobs for each direct," he said then the senior executive. Also pointed out that on the 10th of April they received the resolution approving the Environmental Impact Study (EIS) of the container port, which is one of the two projects, for a total of $1.8 billion dollars, announced in Panama last April by Shanghai Gorgeous. The other project, also of 900 million dollars and in Colón, consists of the construction, installation and operation of a thermoelectric plant to use natural gas and the installation of a receiving terminal and regasification of liquefied natural gas (LNG). The Chinese group said that the "Gas to Power Panama' is a project for the production of clean energy, low-cost and efficient, which will strengthen the national energy matrix with a contribution of 350 megawatts by 2020. Panama is the first country in Latin America in which it is installed the Chinese Group, which has investments in more than 40 companies and projects from the United States to Australia and whose business strategy has focused on energy projects, logistics and high technology, in accordance with their own data. "There are many competitive advantages that make Panama the perfect country for the development of our projects. Among them, a dollarized economy, whose growth has been the basis for which has been awarded the coveted 'investment grade', by the major risk rating companies," said Zhang to Efe last April. In addition, Panama "enjoys a privileged geographical position with an extended channel by more than 14,000 ships a year," and "has failed to develop a cluster (cluster) of services that is concentrated around the Canal (...), which interact with each other, provide all kinds of services required for the logistics of the world trade," he added. http://www.telemetro.com/nacionales/Grupo-arranca-construccion-puerto-Colon_0_1033097702.html freetranslation Quote Link to comment Share on other sites More sharing options...
Keith Woolford Posted June 7, 2017 Author Share Posted June 7, 2017 President Varela and a number of other government officials took part in the ceremony. Quote Link to comment Share on other sites More sharing options...
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