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Venezuelan Refinery in Nicaragua
Construction of an oil refinery,
promised by Venezuela as part of
the Bolivarian Alternative for
the Americas (ALBA), will start
by June, Petroleos de Nicaragua
(PETRONIC) director Francisco
Lopez told Channel 4 on Monday.
Venezuelan President Hugo Chavez
will be in Nicaragua by June to
fulfill the commitment to begin
constructing the us$2.6 billion
facility, with a refining
capacity of 150 barrels of crude
per day in northwestern Leon
Department.
Lopez explained that basic
engineering studies are being
revised by Venezuelan experts,
aided by British consultants.
Besides satisfying Nicaragua's
annual demand, estimated at 10
million barrels of oil, the
refinery will supply fuel to
other countries of the isthmus
from Guatemala to Panama.
According to Lopez, the project
is unprecedented in Central
America, only comparable to the
Panama Canal in magnitude.
Also promoted by Cuba and
Bolivia, ALBA is a
pro-integration project based on
cooperation, solidarity and
complementation, as an
alternative to US-promoted free
trade agreements.
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