President Rafael Correa Delgado is obsessed with raising the flag of the epic project: the Refinery of the Pacific Eloy Alfaro Delgado, this is exposed in the article by Fernando Villavicencio in the website focusecuador.net.
The project began eight years ago, in conjunction with the then President of Venezuela Hugo Chavez, with whom the cornerstone was laid in El Aromo, in Manabi, and he warned to Latin America: “We will not sheathe the Alfarist sword until we achieve our goal.”
Now, without Chavez, amid the worst economic and political crisis, with a petroleum industry marking red figures, without proven reserves that justify the work, with his partner PDVSA, which is drowned in an operational and economic disaster, the “EGOnomistthe ” persists in carrying out the greatest indebtedness in recent times -USD 8,000 million- to build a work that might become a metallic elephant that rather refies corruption derivatives.
During the second half of 2015, the government intended that China was the third partner with the SINOMACH-Hyundai consortium, the Bank of China and Sinosure.
At first, the refiner project was valued at USD 2,400 million. A decade after the work ended up costing more than USD 20,000 million, becoming the most obscene work of corruption of the judicial case Lava Jato (car wash), which is sentenced by the former president of Petrobras, Paulo Roberto Costa, accused of diverting project funds.
The Abreu e Lima refinery is one of the most expensive in the oil history. Investigations indicate that there was an increase of 770% costs and losses by USD 3,200 million. PDVSA withdrew from the project without contributing anything to the joint enterprise. The work has 141 alterations in its design and construction.