Ecuador's vice president Jorge Glas announced that foreign investment of US$5bn is expected in PPPs for several ports.

The ports in question are Posorja, in the province of Guayas, Bolívar, in the province El Oro, and Manta in Manabí.

The Panama Canal expansion will lead to a significant increase in marine transit and "Ecuador cannot stay behind in the ability to receive the post-Panamax vessels," said transport and public works minister Walter Solís.

Recently, the Ecuadorian government signed a contract for US$1bn with Dubai-based terminal operator DP World for the construction of the Posorja port.

In February, Ecuador also signed a MoU with Turkey which allows the Yilport consortium to operate the Bolívar port terminal for 50 years, with a US$750mn investment.

Solís also added that an unnamed Chilean consortium has shown interest in the Manta port with estimated investments of US$165.

Finally, the minister said that besides the foreign investment for the deepwater ports, investments are also expected for the highway stretches of Guayaquil-El Oro, Domingo-Juján and Santo Domingo-Esmeraldas.

 

Source: BNamericas

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