Francisco Portillo, Manager of Port Acajutla, reports that in 2010 the Executive Board of Autonomous Ports (CEPA acronym in Spanish) is also planning an investment of $9.6 million in infrastructure and equipment.
German Rivas writes in Laprensagrafica.com about the plans for the remainder of this year: “There is also a major project for the refurbishing of the piers A and C’s concrete structures, which require an investment of $3 million.
The plan is to improve access to the port, equipment and facilities for the movement of loads, and increase the depths of the three piers.
The Autonomous Executive Port Commission of El Salvador (CEPA) will develop a renovation plan for the port of Acajutla (Sonsonate) with $8.1 million of its own funds and $22 million from external sources.The port renovation plan was approved in July by the board.
Spain's Royal Academy defines a "White Elephant" as something that is "expensive to maintain and has no useful purpose". Like the Port of La Union.
Without ever taking off to become the port that was promised, La Union can now add to its dismal history the increased cost of funding due to the differential between the dollar – the currency in which the meager income of the port is received - and the Japanese yen, the currency in which the loan was negotiated with the Japanese Bank for International Cooperation (JBIC) to build it.
The $3 million project to redesign the Salvadoran Port is expected to begin in February.
Guillermo López Suarez, head of CEPA, the Port Authority, explained that the project will be carried out in three phases, ending around the end of 2010.
"The official confirmed that works will be conducted under a scheduled, staged program, to avoid interfering with the arrival of those ships who are already expected to dock at the port", reported Elsalvador.com.
CEPA finances will only allow them to invest $21.8 million that is considered critical to maintaining operations in 2009.
The Executive Autonomous Port Commission (CEPA) of El Salvador has committed its finances to the payment of the loan from the Japanese JBIC Bank for the construction of La Unión Port, leaving few resources for other investments.
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