Panama
News

Panama to boost fuel operations

Bnamericas Published: Thursday, March 10, 2016
Panama to boost fuel operations

Some US$120mn will be invested in a first phase to expand operations at Panama's fuel free trade zone in Bahía Las Minas, Colón province.

The project will increase storage by an initial 2.5Mb to 5.5Mb in two years and to 12.8Mb in a subsequent phase, the energy department said in a statement.

Works will include nine additional storage tanks and a pier with two docking positions.

Refinería Panamá operates the fuel free trade zone which is one of 10 in the country with combined storage capacity of 29.8Mb.

In a related note, the cabinet authorized presidential minister Álvaro Alemán to extend by 20 years Petroterminal de Panamá's fuel free trade zone contract for terminals in the provinces of Bocas del Toro and Chiriquí.

The announcements come as the Panama Canal Authority (ACP) prepares to inaugurate the expansion of the interoceanic waterway.

ACP statistics reveal that the number of transits through the canal by chemical tankers, crude product tankers and liquid gas carriers in fiscal 2015 ending September reached 1,678, 655 and 422, respectively, compared with 1,494, 585 and 274 transits in fiscal 2014.

For a look at Panama's growing importance as a regional and international trading hub, check out BNamericas' latest Infrastructure Intelligence Series report: Panama: An Emerging Global Logistics Center.

UPCOMING BNAMERICAS EVENTS

5TH Mexico Infrastructure Summit

Click here to see the agenda and speakers

4TH Mexico Oil&Gas Summit

Click here to see the agenda and speakers

Subscribe to the most trusted business intelligence platform in Latin America. Let us show you our solutions for Suppliers, Contractors, Operators, Government, Legal, Financial and Insurance.

Subscribe to Latin America’s most trusted business intelligence platform.

Other projects in: Petrochemicals

Get critical information about thousands of Petrochemicals projects in Latin America: what stages they're in, capex, related companies, contacts and more.

Other companies in: Petrochemicals

Get critical information about thousands of Petrochemicals companies in Latin America: their projects, contacts, shareholders, related news and more.

  • Company: Alfa Laval Ltda.  (Alfa Laval Brasil)
  • Alfa Laval Ltda. (Brasil) is a subsidiary of Alfa Laval Corporate AB and is headquartered in São Paulo, Brazil. Established in 1959, the Brazilian branch has continued to expand...
  • Company: Braskem Idesa S.A.P.I.  (Braskem Idesa)
  • Mexican Braskem Idesa is a joint venture between Brazilian Braskem (75%) and Mexican Idesa Group (25%) created in 2010 to develop a petrochemical complex, known as Braskem Idesa...
  • Company: Sika Perú S.A.C  (Sika Perú)
  • Petrochemical company that produces chemical specialties for civil construction and industry in general. Among its products are waterproof, sealants, adhesives, polyurethanes et...
  • Company: Fertilizantes del Sur S.A.C.  (Fertisur)
  • Fertilizantes del Sur S.A.C. (Fertisur) is a Peruvian chemicals manufacturer engaged in the production, distribution and export of various products to the agricultural, mining a...
  • Company: Quimtia S.A.  (Quimtia)
  • Quimtia is a Peruvian company engaged in the distribution, production and sale of chemical products, industrial supplies and industrial solutions for the food and pharmaceutical...
  • Company: Vistony S.A.C.  (Vistony)
  • The description contained in this profile was taken directly from an official source and has not been edited or modified by BNamericas researchers, but may have been automatical...
  • Company: Honeywell Perú, S.A.  (Honeywell Perú)
  • Honeywell Perú S.A., a local subsidiary of US-based Honeywell International Inc., started operations in the country in 1998. The firm has an office in Lima which opened in 2008 ...