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Investors put their eyes on new refinery
Posted On 31 Jan 2018
Ecuadornews:
The Government proposes that the project should be granted to one or more firms for 20 years and then delivered to the State. Today the results of the visit will be known.
Before 65 representatives of 25 foreign companies that move in the world of petroleum business and related, the President of the Republic, Lenin Moreno, with the Ministers of Foreign Affairs, Hydrocarbons and Foreign Trade and Investment, formalized the interest of the search for investors for the construction of the petrochemical complex that would operate in the commune of El Aromo, (southwest of the Manta canton).
It was the first time after eight years, when the project that spread like Refinery of the Pacific (RDP) began, that a group of potential investors arrived in Manta to know details about the site located 25 minutes from the Manabi port. Asian, Latin American, European and American citizens, most of whom wore light clothes because of the tropical climate, arrived at the Sail Plaza hotel’s events room. There, President Lenin Moreno welcomed the visitors.
“In Ecuador we live in a climate of peace, we produce 90% of clean energy, we are a country of opportunities. If they do business with us, we guarantee legal security and we tell them that corruption is not allowed here, “said Moreno.
The Minister of Foreign Trade and Investment, Pablo Campana, said that after a hard work of more than six months this group of potential investors met. By May 24, the construction agreement should be signed, it may be that only consortia do so or that several companies join to carry out the investment process, said Campaña.
He added that the exact cost of the project is still unknown. The concession will last 20 years and then the petrochemical complex will be delivered to the State. “We will be very flexible in the negotiations in order to finalize the project. We have enough crude to refine; Petroamazonas works at a good pace, “said the Minister of Hydrocarbons, Carlos Pérez. Foreign Minister María Fernanda Espinosa indicated that working in alliances opens up good development prospects for the country.
“Today we are self-sufficient in the generation of energy. The refinery will mark the integral development of the country. We are generating a climate of trust, “he told investors.
The delegates arrived at 09:00 yesterday by air from Quito. Then they overflew the sector and then landed on the land prepared for the project. Many entrepreneurs took photos with the bottom of the platforms. President Lenin Moreno continued his itinerary at the artisanal fishing pier of San Mateo, in the southwest of Manta.
There, in a lunch with businessmen and people from the fishing and aquaculture activity, he indicated that the Pacific Refinery will change its name to Manabí Refinery. The investor agenda continues today in Quito. Campana aims to give news in the capital about the interest of visitors.
The Spanish Francisco Vásquez, of Repsol, commented that when looking at the work at El Aromo it seems that there are well-made platforms and “we expect more information”. The Mexican Igor Flores was pleased that the project is close to the sea and added that he is interested in knowing the business model.
Identity
Change of projects name
It will no longer be called Refinería del Pacífico, it will now be called Manabí refinery, said Lenín Moreno, at a lunch with businessmen. He recalled that the residents of Manabí have waited for this investment for eight years.
May 24 is the date scheduled by the Government to sign the contract for construction.
The agenda continues in Quito
Investors continue with meetings in Quito, where the issue of the Manabí Refinery will be deepened. (I)
