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Saturday, October 25 2014 @ 12:42 PM EDT

London & Regional Signed Contract to Manage Howard

Foreign Direct Investment By Roberto E. Quelne for La Estrella - The company London & Regional signed a contract yesterday with the government of Panama to be the "master developer" of the former Howard Air Force Base for 40 years. London & Regional will turn the area into a new commercial urban district. The master plan will be ready in 90 days. The English company London & Regional will invest $705 million dollars to develop the facility, $405 million in the first eight years and another $300 million in the following 32 years. It is expected that the project will generate about 25,000 jobs in the following 20 years. Panama's President Martin Torrijos was present at the contract signing ceremony, as was the general manager of London & Regional Panama, Ian Livingston, The initial investment will be $20 million dollars, of which $18 million will be invested in the development of Arraiján. The Panama-Pacific Special Economic Area, in Howard, has 2,005 hectares. Of those, London & Regional hopes to develop 1,410 hectares.

Gobierno cede Howard por 40 años a London & Regional

Roberto E. Quelne rquelne@estrelladepanama.com

London & Regional firmó ayer con el Gobierno un contrato para ser el "desarrollador maestro" de la antigua base militar de Howard por 40 años y hacer que esa área sea un nuevo distrito urbano comercial. El plan maestro estará listo en 90 días.

London & Regional, de capital inglesa, invertirá 705 millones de dólares en ese período, $405 millones en los primeros ocho años y los otros 300 millones en los siguientes 32 años. Se espera que el proyecto genere unos 25 mil empleos en los siguientes 20 años.

En la firma del contrato realizada en Howard, estuvo el presidente Martín Torrijos y el gerente general de London & Regional Panama, Ian Livingstone, quien entregó un aporte inicial de $20 millones, de los cuales 18 se invertirán en el desarrollo de Arraiján. El Área Económica Especial Panamá-Pacífico, en Howard, ostenta 2,005 hectáreas. De esas, London & Regional espera explotar 1,410 hectáreas.

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