APM Terminals may be prepared to invested $1 billion in a new container facility in Moín near Limón, but the central government is not off the hook.
Juan Carlos Pacheco Romero, a vice minister of Hacienda, was at the legislature Tuesday to explain to lawmakers why the country has to borrow $40 million to fix up the port. The biggest expenditure of the money, some $22 million, will fix up the existing docks. The country already has agreed to fix up the road leading to the APM site. That is some $2 million. And the shipping channel must be dredged for $11 million more, lawmakers heard.
Unlike most loan proposals, the central government has not yet approved this one. The money would be disbursed over three years.