The legislative bloc Libertad Democrática Renovada (Líder) said that since last February there have been discussions over a project to grant an operation concession over Port Quetzal to Spanish company Grupo TCB for over $400 million.

Rossy Farnes, responsible for Marketing Communications for Empresa Portuaria Quetzal, rejected the idea that there would be a concession or privatization of the port. "No. There will be no privatization plan nor is there one currently. Neither will there be any concession. Maybe they are misinterpreting the statements of President-Otto Perez Molina, on Sunday, where he announced port’s modernization", reported Prensalibre.com

Source: prensalibre.com

More on this topic

Explanations for Lease of Puerto Quetzal

August 2012

Otto Perez Molina: "This is the third attempt to modernize the port and it must not fail, it must go ahead. I am determined for this to succeed and ask you to allow modernization "

Tthe forum ‘Myths and Realities of Puerto Quetzal’ was convened by the President in order to explain the reasons for the Port of Quetzal Company (EPQ in Spanish) has leased an area of 348, 171.81 square meters for 25 years, renewable, to the company, Terminal de Contenedores Quetzal (TCQ), a subsidiary of the Spanish company Terminal de Contenedores de Barcelona (TCB).

Container Terminal On Hold

August 2012

In light of the conflict caused by workers in Puerto Quetzal, the government has suspended the contract for leasing the land for a new container terminal which had been awarded to TCB.

The controller of the port of Quetzal, at the close of the meeting with union representatives said, "We will not hand over the land nor give anything that provides continuity to the contract.

Puerto Quetzal: Workers Offer to Finance Terminal

August 2012

The union for the Guatemalan port has offered $40 million so that its very own Quetzal Port Company will be the one to build the new container terminal initially awarded to the Spanish company TCB.

The union's general secretary, Lazaro Reyes, said they would be willing to invest in the labor liabilities and deposits in the new terminal in order to ensure that it is the port who will manage the services.

Economic Analysis of Puerto Quetzal Lease

August 2012

A study revealed that an international tender to award a concession for the lease of 35 thousand square meters would have generated more income for the state.

It was also noted that the essential new container terminal could have been built with the Port of Quetzal’s (EPQ in Spanish) own funds: "The EPQ is a profitable company, which in 2010 had earnings of Q137 million [$17.4 million] and in 2011 Q120 million [$15.3 million]. It also has between Q680 and Q700 million [ $86.6 million to $89.1 million] in banks.