China to bankroll $400 million road to Limon

Vice President, Luis Liberman

SAN JOSE, COSTA RICA – September 26th, 2012 – The Vice President of Costa Rica, Luis Liberman, announced that China would provide credit of $400 million for the expansion of Route 32 into a four-lane highway, which would begin at the intersection of Rio Frio and continue to Limon. The announcement was made on Monday.

According to a press release, Costa Rica will receive financing of $400 million for a 20-year term, including an interest-only grace period of three to four years.

The government has not yet revealed when construction would begin.  A Chinese company will be in charge of the project, which they say will take 30 months.