investment

Tigo to Invest $100 Million USD in Honduras

Tigo to Invest $100 Million USD in Honduras

Millicom CEO Mauricio Ramos confirmed a $100 million dollar investment in Honduras, mainly to improve infrastructure. Tigo’s network covers between 85 and 90 percent of the population with voice, data and 3G, while the 4G network should reach approximately one third of the population by the end of 2016. This is on the level of […]

Ormat Technologies Begins 35 MW Geothermal Project in Honduras

Ormat Technologies Begins 35 MW Geothermal Project in Honduras

Ormat Technologies signed a build, operate and transfer contract with Elcosa, a privately owned Honduran energy company, for approximately 15 years from commercial operation date. In December, Ormat concluded the drilling activity as well as tests to support the decision to construct the project. Geotérmica Platanares will sell its power, mainly under 30-year power purchase […]

Trial Postponed for Pearson

The sentencing of Mashantucket Pequot Christopher M. Pearson, who was convicted in November of defrauding investors of $280,000 in a Honduran resort development project, and was subsequently banished from his tribe’s reservation, was postponed Wednesday following a lengthy hearing in U.S. District Court in Hartford. Pearson is now scheduled to be sentenced June 14th for […]

IMF Concludes Mission Trip to Honduras

International Monetary Fund (IMF) said that Honduras should contain current spending because they feel expansionary policies are not sustainable. Mario Garza, the IMF representative observed that, “Despite a decline in public investment, the fiscal deficit rose markedly due to a substantial increase in current spending — mainly the wage bill — leading to a large […]