Ecuador showcases port potential

Foreign investment Ecuador's ports will reach $2.1bn by the end of 2016, says VP Jorge Glas (pictured). Credit: ANDES/Micaela Ayala V Foreign investment Ecuador's ports will reach $2.1bn by the end of 2016, says VP Jorge Glas (pictured). Credit: ANDES/Micaela Ayala V

The government of Ecuador has calculated that foreign investment in its ports will have reached $2.1bn by the end of the current year, according to vice president Jorge Glas.

This will be divided between three deep water ports: Posorja, in Guayas; Puerto Bolívar, in El Oro; and Manta, in Manabí.

The announcement was made by Mr Glas during the inauguration of the new locks of the Panama Canal.

According to Walter Solís, Ecuador's Minister of Transport and Public Works, maritime traffic to the West Coast of South America could double and Ecuador needs to ensure that it is not left behind.

While DP World is investing $1.2bn in Posorja, Yilport is investing $750m in upgrading Puerto Bolívar.

Only the Manta project has stalled, he noted, due mainly to recent earthquake damage, although a Chilean company is prepared to invest $167m.

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