Nicaragua: Financing sought for Monkey Point

The port project at Monkey Point, on the southern Caribbean coast and for which studies have already been completed, will have a global impact as it will have to capacity for 100 thousand ton ships to dock there.

Monday, August 18, 2008

A model from the National Port Company (EPN) indicates that the Monkey Point port, when completed, will include: storage for bulk cargo, cold-storage container terminal, liquid cargo terminal, cruise ship area, free zone, grain silos, railway, heliport and probably even an airport, to name a few. The port is expected to be one of the best in the region. The project is urgently needed by the business sector of the country, which has seen the export of their products grow more expensive at close to $1000 per container, since they have to transport their cargo to Puerto Cortes, in Honduras, and to Limon, in Costa Rica, in order to sell in Europe, the east coast of the United States and other markets.

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More on this topic

Monkey Point Port Feasibility Study Begins

August 2011

The Brazilian construction company Andrade Gutierrez will conduct feasibility studies for construction of the port in the Nicaraguan Caribbean.

The agreement, which will be signed before August 21, will allow the construction company to perform economic and environmental feasibility studies and evaluate whether starting the project is viable, said Javier Chamorro, Executive Director of ProNicaragua to La Prensa.

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.

Nicaragua: New Offer for Monkey Point

July 2010

Sit-Global consortium, which is pushing for the construction of a ‘dry canal’, is to bid in the port construction project.

Roberto Duarte, president of Sit-Global, indicated that the proposal put forward by the Korean companies of 9% annual interest for a seven-year term is impossible to pay.

Nicaragua: New Ports Law in 2010

December 2009

The Legislative Assembly could pass the bill on the first trimester of 2010.

Virgilio Silva, president of EPN, the national ports company, explained the new law is fundamental to attract investment for the port industry.

One of the projects in need of investment is the port at Monkey Point, located in the Caribbean, which needs around $250 million.

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