This green fuel refinery would become the largest in the region and would be located in the province of Colón, the MICI announced.

The Minister of Commerce and Industries (MICI), of the Presidency and the National Secretary of Energy, received the group of investors from SGP Bioenergy and Sumitomo Corporation on behalf of the President of the Republic, José Raúl Mulino. At the meeting, a comprehensive description was made of the Biorefinery project to produce biodiesel (RD), which will have an investment divided into 3 phases amounting to 10 billion dollars.

This green fuel refinery would become the largest in the region and would be located in the province of Colón. The initial plan is to export biodiesel and consider its commercialization in the local market, according to what was expressed by Randy Delberg Letang, CEO of SGP BioEnergy.

For his part, Takahiko Ito, representing the Sumitomo group, made an explanation of his investment plans and his participation in the biofuel markets in Latin America and Panama.

The Minister of Commerce of Panama thanked the trust of this business group for the interest of investing in our country in a fundamental sector for the development of an energy transition model that promotes a structural transformation of energy production and consumption models.