Panamainfo’s Blog

10 More Reasons Why Panama’s Economy Will Continue to Do Well: Confirmed Megaprojects for Panama: 2008-10

Folks,

Below is a list of confirmed 8 megaprojects and another huge one in the works for 2008-2010.

Panama is a tiny country- if only half of these projects actually get built it will do very well, but most of these projects are going to happen

Megaprojects in Panama Confirmed for 2008-2010:

1.Canal widening: 2.8 billion

2. Petaquilla mine: 3.5 billion

3. Government infrastructure projects : 3 billion

4. Electrical plants: 945 million

5. Rodman Port: 100 million

6. Manzanillo Port Expansion and other ports: 611 million

7. Puerto Armulles oil pipeline: 100 million

8. London Regional project in Howard: 750 million ( a whole city) They broke ground last week.

9. Another project not yet nailed down: Puerto Armuelles Refinery: 8 billion ( Investors; Occidental Petroleum and the country of Qatar)

Negotiations are continuing for this biggie but they are coming along well .

10. Tourism is growing at 10% a year - a million a year and they spend 10 times more than Costa Rican tourists ( mostly because most tourists are businessmen). Panama’s tourism authority just released an excellent tourism master plan. Panama has more attractions than Costa Rica and its tourism industry is in its beginning stages.

After looking at this list, you know why our Panama City hotels have been so full.

Nancy

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