Investors interested in building a quay at Monkey Point in Nicaragua

A group of American investors is looking at investing in construction of a 350 million dollar deep-water port on the Caribbean coast of Nicaragua at Monkey Point.

Friday, July 25, 2008

Bill Johnson, director of the Miami-Dade County Port, is visiting Nicaragua at the invitation of the state-owned National Port Company, Virgilio Silva, to explore the possibilities for such an investment.
The Nicaragua government want to build a deep-water port at Monkey Point in the south of Nicaragua. The port would provide an important outlet to the Caribbean Sea. At present Nicaragua has no major port on the Caribbean side of the nation.
Johnson said he expects to return to Nicaragua next February with a delegation of potential investors.

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$300 million Investment in Monkey Point

August 2011

Feasibility studies for the mega project to build a port on the Caribbean coast of Nicaragua will be ready in 2 years.

The studies, to be carried out by the Brazilian construction firm Andrade Gutierrez, will determine the size of the project. The estimated initial investment for construction of the port and the highway linking Monkey Point to the port in Corinto is between $250 and $300 million.

Nicaragua Looking for Investors for Monkey Point

July 2011

The government has rejected Korean proposals for financing the proposed deepwater port at Monkey Point in the South Atlantic.

The head of the National Port Enterprise (EPN in Spanish), Virgilio Silva said the negotiations with the Korean businessmen have so far not been beneficial for the country. The investment promotion agency Pro Nicaragua is seeking new investors.

Dry Canal Project in Nicaragua Advances

November 2010

The Government is welcoming Korean investors in order to hold the first meetings regarding the project.

Investors represent Dongmyeong Enginering (DMEC) and Ox Investment Finance Co., which last July signed a Memorandum of Understanding with the Government for the construction of a deepwater port at Monkey Point.

Offers Continue to Arrive for Monkey Point

July 2010

The Nicaraguan inter-oceanic canal company (CINN) has expressed an interest in renewing its involvement in the ‘dry canal’ and port project.

In the 90s the company sought permission to build a ‘dry canal’ railroad to link Caribbean and Pacific ports in Nicaragua. This project included the construction of the port at Monkey Point and a railroad connecting it to another port on the Pacific coast.

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