Refinery in Manabí arouses the interest of four international consortiums

Ecuadornews:

The Minister of Foreign Trade, Pablo Campana, informed that the strategic project will generate investments that will reach $ 10,000 million. The official explained the importance of Ecuador integrating the Pacific Alliance.

A fourth foreign consortium wants to invest in the Pacific Refinery project, which will be built in El Aromo, Manabí. This was announced by the Minister of Foreign Trade, Pablo Campana. The interest is one of the positive results of the trip he made to the United States, which culminated this Thursday, August 2.

Additionally, three other consortiums announced their commitment to the strategic project. He stressed that “the Refinery is a project that we worked with the Minister of Hydrocarbons (Carlos Pérez), with Petroecuador and with President Lenín Moreno, which will be a reality.” He added that the idea of the National Government is that the construction generates between $ 8,000 and $ 10,000 million.

The Secretary of State emphasized that Ecuador will go alone in search of the investor for the refinery. He informed that once the country is operational, it will consume 70% of the products that are refined and 30% would go to the nations of the region. “If I total the number of companies that are interested in the Manabí Refinery, we are talking about one Chinese, four Hindus, four Korean, one Italian, one Russian, three North American funds, two English companies.”

He said that in the coming days the project tender will be called. Campana said that, in meetings with representatives of financial funds, the US ambassador, Todd Chapman, explained that his country will bet all resources in favor of Ecuador. “It’s important, USA It is our main trading partner. In the last 11 years we export 40% of oil and non-oil products to that market “. In addition, he spoke about his visit to Mexico, where he discussed the theme of the Pacific Alliance, in which Ecuador seeks to be a partner.

The government describes the block as important from the point of view of trade, investment, cooperation and integration. “The Pacific Alliance (which includes Colombia, Chile, Peru and Mexico) may be a good alternative for Ecuador, but it is not enough, we must strengthen commercial relations with the main strategic partners.”

The minister pointed out that during November and December of this year Ecuador will receive representatives from Singapore, Australia, New Zealand, Canada and South Korea. The objective is to talk about his decision to belong to the block.

He added that to make it happen, the country, in addition to advancing with financial feasibility, should begin negotiations for a trade agreement with Mexico and expand the one that exists with Chile. With Colombia and Peru there is commercial openness through the Andean Community of Nations (CAN). This year, the ground is being prepared to formalize the negotiations that are expected to be finalized in 2019, according to the details of Campana in Guayaquil. (I)

Source: https://www.eltelegrafo.com.ec/noticias/economia/4/consorcios-extranjeros-refineria-manabi-ecuador