Panama: $ 84 Million Project in Danger
The Greater Panama company announced it has set a December deadline to cancel the project.
Monday, October 25, 2010
The real estate project, developed by Panama Investment and Development Corp., located in La Chorrera, has not received final approval from the National Environmental Authority (ANAM) for its Environmental Impact Study.
The approval of the Environmental and Social Impact study is an important step that enables the entry of other investors into the project.
The company in charge of the environmental impact study has provided the estimated costs of the work, which could be completed in four years.
Any projects in Category 1 will no longer require environmental impact studies (EISA for its Spanish acronym), those studies will be substituted by the use of "Good practices guides".
The Metro Secretary reported that as of yesterday, November 25th, public consultation began for the study.
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