$80 million Port Modernization

Port of Quetzal in Guatemala is planning to renovate an auxiliary dock, build a floating dock for cruise ships and bulk carriers and another one in the main dock.

Friday, August 21, 2015

Carlos Lainfiesta, chairman of the board of the Port of Quetzal (EPQ), told Prensalibre.com that "... the work will be done within the framework of strategic alliances with private actors. 'We are carrying out technical and financial evaluations to determine the constructive model for the work and costs'. "

"... The initial reference value has been determined based on the capital requirements for the construction of Container Terminal Quetzal (TCQ) in Escuintla and Puerto Barrios, Izabal. Lainfiesta stressed that the construction of an auxiliary dock alone could need an investment of up to $60 million. "

"... The manager stated that there is interest from international port management companies and shipping companies in taking part; however, he said that one obstacle is that Guatemala lacks a law regulating port activity which would give greater legal certainty for potential capitalists. "

The announcement comes at a time when the Attorney General's Office (PGN) is considering the application to declare the contract with TCQ, who is building a container terminal at Puerto Quetzal, damaging.

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