First German investment in Mariel Special Development Zone

HAVANA, Sept. 21th The office of the Mariel Special Development Zone (ZEDM) announced that the enterprise PASI Mariel Service S.A. (PAMAS S.A.) was approved and constituted,

thus concretizing the first German investment in that “strategic enclave” for the Cuban economy.

PAMAS S.A is an enterprise created with 100 percent foreign capital and is authorized to operate for a period of 30 years.

The enterprise will be dedicated to the construction of a factory for the production and assembly of industrial valves, hydraulic and pneumatic systems, dynamic equipment and its components.

It will also offer diagnostic, repair, maintenance and training services by technical personnel associated with these products.

Authorized to operate for a period of 30 years, PAMAS S.A. will use modern technologies for the development of its productions and renewable energy sources to generate electricity.

With this enterprise, the number of authorized businesses amounts to 48 ​​ and 21 countries have been represented in the ZEDM since five years ago, when it was inaugurated.