Talara oil refinery upgrade's mega project is likely to boost tourism and economic growth in Peru's northern-macro region fueled by a significant increase in the demand for goods and services in Piura, it was reported Wednesday.
"Tourism will be one of the most benefited sectors from this massive investment project," said Javier Atkins, President of Piura's regional government. "This sector is expected to increase by 10 percent during the first year of the refinery's construction".
Likewise, Atkins pointed out that through a partnership with the private sector, they will develop a coastal project to generate tourism revenues in Cabo Blanco. "It [the project] will be a key point in our plan for economic expansion."
"For the upgrade, not only workers will come but also their families, who will seek recreational areas, thus making greater use of tourism services", Atkins said.
In this regard, Atkins noted that purchases of food, clothing and a wide range of services, will increase, boosting the regional economies of the country's northern regions.
The upgrade project at Talara refinery, located at Piura, 1,200 km north of the country’s capital, Lima will cost a total of US$ 3.5 billion, with US$ 2.7 billion coming from state oil company Petroperu and the remaining US$ 765 million from private firms.
Following completion of the modernization project, which is slated to run from 2014 to 2017, crude oil processing capacity at Talara will rise to 96,000 barrels per day from its current capacity of 60,000 b/d.
(END) SDD/LIT/DLG/LOG