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China's CAMC wins $233 million contract in Nicaragua

Monday, April 30, 2012

China's CAMC Engineering will build a 1.08 million-barrel oil deposit tank and submarine pipelines for a refinery in western Nicaragua.

CAMC's deal with Albanisa, an oil venture between Nicaragua and Venezuela, is worth $233 million. The project will take around 20 months to finish.

The refinery, located near Puerto Sandino on Nicaragua's Pacific coast, will produce 150,000 barrels per day and send oil to other nations in Central America. The entire refinery will cost around $6 billion.

Source: Reuters