The Comptroller has confirmed the contract for Del Monte to invest $100 million in a maximum period of seven years, projecting an average productivity of 2,725 fruit boxes per hectare per year.

The contract was endorsed by the Comptroller’s Office, but requires the approval of the Cabinet and the approval of the National Assembly to become contract-law. 

From a statement issued by the Comptroller General of Panama:

The Comptroller General of the Republic, Federico Humbert, endorsed this morning an Agreement between the State and Banapiña de Panamá, S.A. This Agreement, in accordance with the terms and conditions, aims to develop a project designed to reactivate banana activities, creating new jobs and economic investments with direct and indirect impact on the social and economic aspects of the Barú-Alanje and Chiriquí Grande-Bocas del Toro areas.

It is estimated that the project will be developed in a period of no more than seven years with a minimum investment on the part of the company of ONE HUNDRED MILLION BALBOAS (B / .100,000,000.00), generating an approximate 3,100 direct jobs and the consequent generation of 12 thousand indirect jobs in trade and services.