RECOPE $40 Million Spent Just On Studies For China Refinery

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    San Jose [TCRN] – The Costa Rican Oil Refinery (RECOPE) has spent more than $ 40 million in studies infrastructure on roads and remodeling of a refinery that has not yet been approved and whose effectiveness has been questioned by experts.

    RECOPE has invested over $ 4.8 million only on feasibility and engineering studies.

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    In the feasibility studies and engineering have been spent and $ 4.8 million, plus the number that RECOPE has working permanently in the project are between 10 and 12 people. SORESCO (“joint venture” was formed by the refinery RECOPE and China’s CNPC.

    RECOPE also hired the U.S. firm Honeywell to support the process to review the scope of the feasibility study (conducted by the Chinese) and make recommendations. Initially, the report noted that the refinery would not achieve the expected return. This study had a cost of $ 95 000.

    More recently, RECOPE hired Australian company Worley Parsons to conduct a third study, at a cost of $ 37 million. This after Honeywell said that the feasibility report prepared by the Chinese showed that the quality of the refinery and the profitability of it would be much lower than expected. Honeywell also made a number of recommendations involving technical and administrative changes to the project.

    According to data provided by Rojas, several officials of the technical and administrative RECOPE have been more than 5 trips to China and currently maintain a group of approximately 12 people working permanently in the project.

    RECOPE has not released the details on costs for travel, and salaries on the project.

    The Costa Rica News
    San Jose Costa Rica

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