Yilport Holding has signed a 50-year concession to operate Puerto Bolívar in Machala City, Ecuador, which includes a commitment to invest US$750 in the port.
The development will occur in five phases, creating Latin America’s largest container terminal with an annual capacity of 2.5m teu.
Puerto Bolívar port is one of the world’s largest shipment points for fruits and seafood.
Initially Yilport will invest US$230m in the first phase, which will span three years. The dredging work will deepen the draft from 10 m to firstly 14 m, and then to 17 m.
A 450 m long quay will also be built while the terminal will be equipped with “modern infrastructure and cranes”, noted a statement from Yilport.
Eventually, the port will become the “largest and the most advanced” container terminal on the Pacific coast of Latin America according to the Turkish terminal operator.
It will be able to receive the “largest container ships in the world,” added the Yilport statement.
The handover process commenced following a signing ceremony on August 8, to conclude in 90 days.
Source: Container Management
Source: Container Management