Costa Rica News – Ticos are losing out on savings of $20 million in fuel due to a legal dispute between a Costa Rican company and a Mexican one that has declared bankruptcy. This has prevented the completion of the new Moín oil dock.
The construction began almost seven years ago and is at 95% but it’s stalled, for 20 months already, and the government doesn’t know when it will be able to start operations. Once it can start, it will allow oil tankers doubled in capacity, saving a lot of money on fuel. The estimate is that it will generate a savings of $20 million per year.
The 5% remaining to be finished consists of 200 meters and the wiring of electro-mechanical equipment to unload fuel from the ships, electrical equipment for control of the hydraulic arms for cargo handling and general control instruments.
If the construction company does not comply, Recope will have to rescind the contract first and then start a new process. A breach of contract due to non-compliance will take at least a year to legally close the relationship and be able to hire another company.