ANNOUNCED AS TEMPORARYNo
On 9 July 2014, the National Bank of Foreign Trade (Bancomext) on a press release announced its decision to provide to the business entity of Isla Cabańa, S.A. de C.V. a loan which monetary value is 13.7 million USD.
Isla Cabańa, S.A. de C.V. will utilize this loan for building a hotel which will be functioning under the brand of Westin Cozumel (part of the franchizing portfolio of Starwoood Hotels & Resorts) in the Yucatan Island. The total costs entailed in the building of this hotel are estimated at 27.405 million of US dollars. Furthermore, the building of this hotel is expected to create 400 jobs during the construction phase and more than 200 direct jobs in the post-construction phase.
The GTA includes state guarantees and other financial incentives that are likely to affect the restructuring and performance of firms facing international competition, whether from imports, in export markets, and from foreign subsidiaries.
⚑ Please report this page in case you detect an inaccuracy in its content.