Yilport seals Puerto Bolívar deal

It has committed to investing US$750M in five phases on the development and modernisation of the port, this will create Latin America’s largest container terminal with 2,500,000 teu annual container handling capacity.

The deal marks the largest ever Turkish investment in Ecuador as the concession agreement was signed on August 8.

Yilport Holding will transfer its global expertise from 21 terminal operations around eight countries into Puerto Bolívar as the agreement goes into effect.

Initially, Yilport will invest US$230m in the first phase, which will span three years. The dredging work will deepen the draft from 10m to firstly 14m, and then to 17ms.

With a new 450m-long quay will be built, the terminal will be equipped with modern infrastructure and cranes.

Puerto Bolívar will aim to boost the foreign trade volume of Ecuador, and will constitute a strategic role in the global network of Yilport Holding.

Yilport won the tender for Puerto Bolívar in 2015, with the preliminary agreement being signed in Ecuador in February 2016.