Mexican firms to build two Panama projects

Two Mexican companies controlled by billionaire Carlos Slim announced they will develop, construct, and operate two Panama hydroelectric projects worth US$250 million.

Mexico’s Impulsora del Desarrollo y el Empleo en America Latina SA (IDEAL) said May 4 it received concessions to develop and operate the 70-MW Baitun and 54-MW Bajo de Mina projects on Panama’s Chiriqui Viejo River near the Costa Rica border. Baitun is to have two 35-MW generating units, while Bajo de Mina is to have two 27-MW units.

The hydro projects were among 12 offered for concession earlier this year by Panama utility regulator Autoridad Nacional de los Servicios Publicos. (HNN 3/5/07)

IDEAL’s sister infrastructure construction company, Carso Infraestructura y Construccion SA de CV (CICSA), said it would build the projects. IDEAL is to operate the projects and sell energy in Panama.

Slim, the world’s second wealthiest man, said in March he intended to invest in infrastructure projects throughout Latin America.

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