El Salvador: $ 2,000 Million Investment Frozen

At least seven projects are stalled, waiting for the country's situation to improve.

Wednesday, November 17, 2010


Newspaper elsalvador.com detailed major investment projects which are on stand-by in El Salvador:
- Cutuco Energy and AES Fonseca (energy, $ 1,630 million)
- Porto Pango (tourism, $ 300 million)
- Encanto Villas & Golf (residential, $ 100 million)
- Europlaza World Business Hotel (tourist and business)
- Q Towers (residential and business).

The reasons behind the decision to halt these projects are varied, and include difficult domestic and international economic conditions, poor public security and political and legal uncertainty.

The article adds that most of these initiatives would resume in 2011, when the country's situation improves.

More on this topic

$38 Million for Corporate Complex in El Salvador

May 2009

Europlaza World Business-Hotel is part of the projects being carried out by the Guatemalan Real Estate Company, El Bosque.

Located on the Panamerican highway in Old Cuscatlán, the project will have four towers and a hotel.

Guadalupe Hernández wrote in Elsalvador.com: "According to the mayor of Old Cuscatlán, the developer has complied with the required permits for the construction of such projects, reason for which it proceeded with the earthworks in an area of over 56 thousand square meters."

Ilopango to get US$300 million tourism makeover

May 2008

Private investors are working on a US$300 million project to turn Lake Ilopango into a top tourist destination.

The project would include construction of El Salvador's first five-star lakeside hotel, with 285 rooms, as well as luxury condos with swimming pools, a spa and shopping mall.

More Backing for Investment in the Nicaraguan Pacific

January 2013

The tourism developer Gran Pacifica is planning to complete the Gran Pacifica villa with 300 homes, hotels and condominiums, golf courses and parks, according to the master plan for investment.

Laprensa.com.ni reports that "Leveraging the signs of recovery shown in some of the world’s economies, which seem to have withstood the roughest stage of the global crisis, the tourism developer Gran Pacifica is expanding its growth targets toward agribusiness, energy generation and mining, without abandoning its goal of consolidating residential tourism. "

 close (x)

Receive more news about Business and Investment

Suscribe FOR FREE to CentralAmericaDATA EXPRESS.
The most important news of Central America, every day.

Type in your e-mail address:

* Al suscribirse, estará aceptando los terminos y condiciones

AES Changuinola

In late 2005, AES began developing the Changuinola hydro power project and currently the project is in the phase of building the roadways to access that facility. The formal cornerstone laying ceremony took place on October 25, 2007. The project's total completion represents an investment of approximately $563 million and the estimated date for the Changuinola hydro power plant to go into commercial operation is the first quarter of 2011. Through this new facility, AES contributes to the country's development and helps face the growing demand of energy in Panama, which requires an additional 50 MW each year. The construction of the new Changuinola I Hydro Power Plant: * is an asset to Panama * will generate clean and 100% Panamanian energy * will create opportunities for previously excluded populations * will contribute to solve the country's energy situation * will help Panama to continue growing The construction and operation of the hydro power plant will be under the responsibility of AES, a multinational energy corporation with world-class standards and an active presence in Panama.
Operates in Panama
Phone: (507) 206-2600

Company Profile

Stock Indexes

(Oct 21)
Dow Jones
S&P 500


(Oct 21)
Brent Crude Oil
Coffee "C"