Costa Rica Coffee Guide

First of New Power Plants Inaugurated in Tipitapa

June 20, 2008

MANAGUA – President Daniel Ortega last weekend officially inaugurated the first of three new bunker oil plants purchased by Nicaragua with Venezuelan aid under the auspicious of the Bolivarian Alternative for the Americas (ALBA).

The $22 million “Comandante Ernesto ‘Che’ Guevara” plant located in Tipitapa, 20 kilometers north of Managua, will generate 20 megawatts of energy, helping to alleviate the country’s energy situation. The second and third plants will be inaugurated in Masaya and Managua, for a combined total of 100 megawatts of power, providing Nicaragua with its first comfortable energy surplus in years (NT, June 6).

Ortega thanked Venezuelan President Hugo Chávez for helping Nicaragua out of its energy crisis through ALBANISA, a join oil venture between the two countries.

Under ALBANISA, Nicaraguan state oil company Petronic has become the majority oil importer in Nicaragua this year.

According to statistics from Francisco Aguirre, president of the National Assembly’s Economic and Budget Commission, Petronic this year is on schedule to import 60 percent of Nicaragua’s total oil imports for 2008, up from 17 percent in 2007.

Although not much is known about the inner workings of Nicaragua’s oil business with Venezuela, legal experts claim that Nicaragua cannot legally be acquiring any debt to Venezuela because according to the Constitution the state can only acquire debts if they are first approved by the National Assembly.

 

You may be interested

Costa Rica previews new tower at Calderón Guardia Hospital
Costa Rica
7546 views
Costa Rica
7546 views

Costa Rica previews new tower at Calderón Guardia Hospital

Alejandro Zúñiga - July 9, 2020

Costa Rican authorities on Thursday previewed a new tower at Calderón Guardia Hospital in San José, which could be used…

News briefs: Costa Rica will handle land borders differently than airports
Costa Rica
4726 views
Costa Rica
4726 views

News briefs: Costa Rica will handle land borders differently than airports

Alejandro Zúñiga - July 9, 2020

The coronavirus crisis has transformed life in Costa Rica, which has enacted measures to protect the capacity of its health…

Costa Rica extends tourist visas until November 18
Costa Rica
3014 views
Costa Rica
3014 views

Costa Rica extends tourist visas until November 18

Alejandro Zúñiga - July 8, 2020

Costa Rica's Immigration Administration is offering foreigners extra flexibility as countries continue to restrict travel due to the coronavirus pandemic.…