February 16, 2012 [Central America Data] - The company Melons Oil Terminal Inc will operate and manage a Fuel Free Zone capable of storing 2 million barrels of oil.
A press release from the Presidency of Panama reads:
The Cabinet Council has authorized the Minister of the Presidency on behalf of the State to finalise a contract with the company Melons Oil Terminal Inc., for the operation and administration of a Fuel Free Zone capable of storing 2 million barrels of oil.
Melons Oil Terminal Inc., will establish the area with an investment of $65 million to operate, maintain and manage a complex of tanks, pumping stations, docks, and ducts for crude oil, semi-processed, derivative products, natural gas, biofuels, petrochemicals and others on Taboga and Melones islands.
During its construction phase the fuel free zone will generate about 200 jobs and during its operation it is projected it will create 50 direct jobs, said David Munoz, from the Energy Department.
