El Salvador secures a $1.6 billion investment for the development and modernization of port infrastructure: it is the largest private investment in the country’s history.
El Salvador has secured a $1.6 billion investment from the Turkish company Yilport Holding, aimed at modernizing the port infrastructure of Acajutla and building a new port in the city of La Unión, where the Bitcoin City announced in 2021 is planned.
The investment will be managed in several phases starting this year, focusing on developing El Salvador as a logistics hub, reducing wait times, and improving port efficiency.
The agreement between Yilport Holding and the Autonomous Executive Port Commission (CEPA) includes a 50-year management period of the port facilities by Yilport. The investment aims to transform La Unión into a more efficient and technologically advanced port, essential for the region’s development.
Through a post on X, the President of El Salvador, Nayib Bukele, announced the investment, stating:
“Yılport Holding Inc. will allocate over $1.615 billion to the Pacific Ports Union. This includes modernizing the Acajutla port and eventually operationalizing La Union port.”
Federico Anliker, Autonomous Executive Port Commission (CEPA) leader, emphasized the importance of the investment, stating:
“Strengthening our ports with this historic private investment will elevate El Salvador’s position significantly.”
