Panama will build a passenger train to Costa Rica with the participation of China, a project which needs an initial investment of $5 billion, Panama’s President told in an interview, a sign of the Asian country’s growing interest in Latin America.
President Juan Carlos Varela stated that With an expected $4 billion investment requirement, Panama is promoting infrastructure investment in general and will also auction off a third metro line. China has become deals in Latin America as the United States, under President Donald Trump, has taken a more secure stance on trade.
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“We are doing with China a feasibility study of a 450-kilometer train between Panama and the border of Costa Rica,” Varela said on the sidelines of the Americas Summit in Lima on Friday evening. Varela also said he anticipated a $6 billion copper mine under construction by Australia’s First Quantum Minerals to initiate producing next year, adding 2.5 per cent to Panama’s gross domestic product.
In reference to the US-China trade dispute, Varela said if any country needed to start over the talk trade agreements, it should do so without escalating conflict. Panama hailed investment from all countries, he said.
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