Panamá Pacífico to Invest $345 Million in 5 Years

©image: aaeepp.gob.pa

Olmedo Alfaro, general administrator of the Panama-Pacifico Special Economic Area Agency (AEP), highlighted that, “in these five years, more than $300 million will be invested representing a switch from the planning to operational phase for Panama-Pacifico”.

The AEP is the state institution responsible for regulating London & Regional, the private company owning the area’s 40 year concession where it is due to invest at least $705 million.

Source: pa-digital.com.pa

More on this topic

Investment of $705 Million in Panama Pacific Project

March 2009

The British company, London & Regional, is developing the project which would imply a $705 million investment over the next 40 years.

In an article in La Estrella de Panama, some of the characteristics of the project are described, which consists of a sustainable city with business parks, logistics, tourism and residential areas.

Panamá Pacífico Development Underway

August 2009

$65 million have already been invested in the former Howard Air Base.

Henry Kardonski is the CEO of London & Regional Panamá, developer of the project. He assured that by the end of 2009, over $100 million will be invested, 15% of the targeted $705 million.

Work on the industrial business park is expected to be finished this month, with 10.000 m2 of office space and 21.000 m2 of warehouses.

Panama Pacific Project begins construction

November 2008

Construction of the first phase of the $70 million Howard, Panama-Pacific Project starts tomorrow.

London & Regional Panama, master developer of the Panama-Pacific Special Economic Area, will hold the official innaguration for construction start up.

The ceremony will be held on Thursday, November 13, 2008 at the former Howard Base.

Panama Pacifico Inaugurates Visitor Center

April 2010

London & Regional inaugurated the visitor center at Project Panama Pacifico.

Construction of the two buildings which compose it started January 2009 and finished January 2010.

Several companies have stated their intention of participating in the project: 3M, Caterpillar, 3PL Panamericana, Bombasa Latinoamérica, Aggreko, Cable & Wireless, IP Leather, Singapore Technology Aerospace and Yermont Enterprises, among others.