Construction has started on a $96 million oil terminal in Moin, Puerto Limon, a port on Costa Rica’s Caribbean coast, the government said.

The new oil dock will be able to handle tankers in the 40,000 ton to 80,000 ton class.

President Laura Chinchilla laid the cornerstone for the terminal during a ceremony on Monday in Moin, Puerto Limon, which is in Limon province.

The oil dock is expected to begin operating by the end of 2014, officials said.

The oil terminal’s expansion is being funded by state-owned Refinadora Costarricense de Petroleo, or Recope, and the dock is being constructed by Mexican-Costa Rican consortium MECO, which won the bidding for the project.

Tankers arriving at the new terminal will be able to unload their oil 24 hours a day.

Costa Rica’s oil tab totaled $2.175 billion in 2012 and $2.172 billion 2011, Recope said.

The Costa Rica News (TCRN)
San Jose Costa Rica