Upcoming Infrastructure Projects in Ecuador Detailed Event Information For Upcoming Infrastructure Projects in Ecuador
Upcoming Infrastructure Projects in Ecuador -- Architectural/Constr./Engineering SVC, Construction Eq., Electrical Power Systems, Oil/Gas Field Machinery, Port/Shipbuilding Eq., Renewable Energy Eq., Telecommunications Eq., Water Resources Eq./Services
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Location/Date: Quito, Ecuador 12/13/2018 - 12/13/2018
Event Summary:
While Ecuador's dollarized economy provides macroeconomic stability, the economy still depends heavily on oil revenues for public spending on infrastructure projects. The Moreno administration's policy shift to improve the business environment is expected to attract more private investment in infrastructure projects. The administration's use of the public-private partnerships (PPPs) model will help to partially offset government spending reductions by securing outside financing for some key projects, providing opportunities for large firms and financiers.

The Moreno Administration is focused on expanding infrastructure in oil refineries, hydroelectric power, ports, roads, water, and hospitals. It plans to offer tenders to revamp the Esmeralda refinery, a $1 billion investment and to build the new Pacific refinery, an $8-10 billion investment.

Real economic growth will remain slow in the 1.2 – 1.4 percent range in the short term, but is expected to gradually accelerate as investment picks up as a result of structural reforms and rising oil prices. An improving business environment should spur private investment over the coming years, especially in the extractive sector, where Ecuador is set to attempt its first oil licensing round in a decade. Rising oil prices and production, following the reintroduction of price-sharing structures with oil field service providers, will also provide a considerable boost to the Ecuadorian economy over the coming years.


Contacts:
Matthew Gaisford, Latin America/Caribbean
International Trade Specialist
Phone: 202-482-0057
matthew.gaisford@trade.gov
Matt Baker, North Texas
International Trade Specialist
Phone: 817-701-6350
Matt.baker@trade.gov
Diego Gattesco, Wheeling
Senior International Trade Specialist
Phone: 304 243 5493
Diego.Gattesco@trade.gov

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