• Costa Rica Real Estate
  • Costa Rica Coffee Guide

China announces largest investment yet in Costa Rica

December 6, 2011

China’s largest investment in Costa Rica to date was announced Monday afternoon, as the China Development Bank agreed to pay between $800-$900 million for the modernization of the Costa Rican National Oil Refinery’s (RECOPE) processing plant in the Caribbean port town of Moín. The funds for the refinery upgrade will become available Dec. 31, 2012, with the expected project completion date slated for 2013.

The current refinery in Moín processes 25,000 oil barrels per day. The expansion projected will improve that capacity to 60,000 barrels per day. Australian energy and construction company Worley Parsons will oversee the development and management of the project.

The overall investment price tag on the refinery renovation is $1.24 billion. The additional $300 million for the project will be financed by Soresco, a joint-company created by RECOPE and China National Petroleum Corporation International, which is China’s state-owned oil company.

You may be interested

Costa Rica reopens 15 more protected wildlife areas
Costa Rica
16683 views
Costa Rica
16683 views

Costa Rica reopens 15 more protected wildlife areas

Alejandro Zúñiga - June 2, 2020

Costa Rica has reopened 15 more protected wildlife areas, the Environment Ministry (MINAE) announced this week. Below are the protected…

Costa Rica adds 21 new coronavirus cases, announces regional driving restrictions
Costa Rica
20250 views
Costa Rica
20250 views

Costa Rica adds 21 new coronavirus cases, announces regional driving restrictions

Alejandro Zúñiga - June 2, 2020

Costa Rica confirmed 21 new cases of the coronavirus over the past day, totaling 1,105 cumulative known cases, the Health…

UK announces repatriation flight from Costa Rica to London
Costa Rica
1269 views
Costa Rica
1269 views

UK announces repatriation flight from Costa Rica to London

The Tico Times - June 2, 2020

The United Kingdom has announced a repatriation flight from Costa Rica for Britons who need to return home during the…