{"id":13825,"date":"2015-06-30T15:34:01","date_gmt":"2015-06-30T20:34:01","guid":{"rendered":"http:\/\/panamaadvisoryinternationalgroup.com\/blog\/?p=13825"},"modified":"2015-06-30T15:34:01","modified_gmt":"2015-06-30T20:34:01","slug":"barro-blanco-20-million-loss","status":"publish","type":"post","link":"https:\/\/panamaadvisoryinternationalgroup.com\/blog\/barro-blanco-20-million-loss\/","title":{"rendered":"Barro Blanco: $20 million Loss"},"content":{"rendered":"

\"barro<\/a><\/p>\n

Suspension of the work on the hydroelectric<\/a> project Barro Blanco caused by the blockades set up by locals preventing access to the site, has caused huge losses.<\/p>\n

From a statement from Generadora del Istmo, SA<\/a> (Genisa<\/a>)<\/p>\n

GENISA reiterates urgent need to end Barro Blanco Strikes<\/p>\n

(Panama<\/a>, June 24, 2015) The environmental and economic consequences of the suspension of work in Barro Blanco, caused by an illegal blockade at the entrance to the project, is worrying managers of Generadora del Istmo, S.A., who are warning that there is an urgent need to continue the works approved by the Government.<\/p>\n

It has been about three weeks since the blockade started and the government authorities have been respectfully asked to restore public order and allow free access to our private property. This requires that the groups that are blocking access to the project be removed from the entrance area for our workers.<\/p>\n

Economic losses<\/a> incurred by the company following the suspension of work in February 2015 are around US $20 million. The Barro Blanco project involves an investment of US $140 million and its construction is 95% complete.<\/p>\n

The project has generated income for the Government of Panama in the order of US $8 million in taxes and granting of permits. Genisa has complied with every call for dialogue fostered by the authorities and has expressed interest in supporting a consensus. What we can not allow is for this kind of illegal blockades violating the constitutional rights of any investment in the country, to set a bad precedent.<\/p>\n

We reiterate to the Government the urgency of continuing with these previously authorized construction works to avoid structural and imminent risks, as well as the resolution of the pending administrative process with the Ministry of Environment.<\/p>\n","protected":false},"excerpt":{"rendered":"

Suspension of the work on the hydroelectric project Barro Blanco caused by the blockades set up by locals<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-13825","post","type-post","status-publish","format-standard","hentry","category-news-articles-panama-perpsective"],"yoast_head":"\nBarro Blanco: $20 million Loss - Blog and Newsletter<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/panamaadvisoryinternationalgroup.com\/blog\/barro-blanco-20-million-loss\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Barro Blanco: $20 million Loss\" \/>\n<meta property=\"og:description\" content=\"Suspension of 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