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Ecuador invites Russian investors to participate in its major projects

The Minister of Foreign Trade of Ecuador, Pablo Campana, today invited in Moscow Russian businessmen and investors to participate in the big industrial projects that the country handles Latin American in the coming years.

Moscow, Nov 27 (EFE) .- Ecuador's Minister of Foreign Trade, Pablo Campana, invited Russian businessmen and investors to participate in major industrial projects in Moscow today. manages the Latin American country for the coming years.

"We are not far, we are close" to each other, said Campana to Russian businessmen and bankers gathered in a downtown hotel in Moscow, a few meters from the Kremlin and the Red Square.

Ecuador's strategy for the last eight years "has been to prepare for this moment" in which the country wants to move definitely from a fundamentally agricultural economy to one based on the creation of added value, explained the Ecuadorian minister.

Ecuador, he stressed, has special interest that Russian companies participate in some of these large infrastructure projects -including hydroelectric plants, oil refineries, projects miners and agroindustrial companies- that it will tender in the coming months.

Russia "is among the three main strategic partners of Ecuador," said Campana, who stressed that in sectors such as mining and oil "Russian companies have a great experience."

"Ecuador is a small country, but it offers great opportunities, it has mining, hydrocarbons, agriculture and fishing, water and tourism, "he said.

One of those opportunities is the Eloy Alfaro Pacific Refinery project in the province of Manabi, which aims to refine the oil produced in the region. Ecuador itself to cover domestic demand for fuel.

"Ecuador produces 540,000 barrels per day of crude and currently has the capacity to refine only 170,000," he explained. Campana.

With the new refinery, which requires an investment of between 10,000 and 14,000 million dollars, the South American country will not only cover its own demand for fuel, but also It may also export surplus production to other countries in the region.

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