Government to Award Concession of La Union Port
By next week, the government will send to the National Assembly a draft law for the concession of the port of La Union.
Wednesday, March 16, 2011
The concession is to be developed under the “landlord” format, in which the State retains control and ownership of the assets but delegates responsibility to a private operator in order to develop the business on his own account and risk, stated Salvadoran president Mauricio Funes.
According to private operators, shipping companies will continue using port Acajutla, so the new port would only generate losses for the Salvadoran state.
At least 10 international companies have expressed interest in the public process to award the operation of port La Union in El Salvador.
The private sector has pointed out the constitutionality of the decree and considers that it is conveying the right message to foreign investment.
The Salvadoran government has announced the conditions to be fulfilled by companies who operate, under the form of concessions, at the new port.
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