First German investment in ZED Mariel approved

The incorporation of PASI Mariel Service, S.A. (PAMAS, S.A.) and its establishment as user of ZED Mariel was formalized today, which constitutes the first investment from Germany in this strategic enclave for the development of the Cuban economy.

This new investment, a totally foreign capital enterprise, will consist on the building of a factory for the production and assembling of industrial valves, hydraulic and pneumatic systems, dynamic equipment and their components, as well as the provision of diagnostics, repairs and maintenance services, as well as training of technical staff associated to those products, all of which will significantly impact the country’s industrial development and import substitution.

Authorized to operate for a period of 30 years, PAMAS S.A. will use modern technologies for the development of their products and renewable energy for power generation.

With this new investment the number of business approved since the creation of ZED Mariel rises to 48 and the number of countries represented to 21.