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Sunday, April 21 2019 @ 08:56 PM UTC

Executive Cabinet Approves Extension for Puerto Armuelles Refinery Project

Foreign Direct Investment

By DON WINNER for - Panama's Executive Cabinet, led by President Martin Torrijos, authorized an extension on a Memorandum of Understanding to the companies Qatar Petroleum International and Occidental Midstream Projects (a subsidiary of Occidental Petroleum) to allow them more time to continue their studies related to the potential establishment of a refinery in Puerto Armuelles in Panama's Chiriquí province. Rafael Mezquita, the Minister of the Presidency and Secretary General of the Executive Cabinet, explained this decision will allow the companies to continue to study the feasibility of the project until 31 December 2009. The cabinet also approved other important projects. (more)

Mezquita said Torrijos and his ministers approved the designation of a 29 hectare parcel of land near Brazos Broocks to the Municipality of Colon for the construction of a municipal park in this area.

In addition, the government approved a contract between Cable and Wireless and the Ministry of Government and Justice for the installation of 48 video cameras for the monitoring and security along the main streets of downtown Colon at a cost of more than $3 million dollars.

The cabinet also approved a contract worth $3.8 million dollars to buy furniture and equipment for the new central administrative offices of the Office of Social Security that will be located in Building 519 on Fort Clayton.

Finally, the cabinet approved a contract between the National Secretariat of the Nutrition Plan (SENAPAN) and the company "VALE Panamá" to provide certificates worth $50 dollars per month that are distributed through the Secretariat and that are part of the program of "Network of Opportunities. " He explained that the contract is worth $5.8 million dollars and that represents support to more than 9,000 families of the Ngöbe Buglé region, in the districts of Mironó, Nole Duima, Besikó y Ńurum, whose residents live in conditions of extreme poverty and who will be receiving the help from this program.

Copyright 2008 by Don Winner for Go ahead and use whatever you like as long as you credit the source. Salud.

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