Local Funding for Terminal de Contenedores Quetzal

The Spanish company which is to build and operate the new container terminal at Puerto Quetzal, is seeking $250 million from banks in Guatemala.

Wednesday, April 17, 2013

As explained by Juan José Suárez, CEO of Container Terminal Quetzal (TCQ), the advisory firm Everis, will be responsible for making the round of contacts with the banks which could finance the construction of a new dock and terminal in the Port of Quetzal (EPQ).

According to Suarez "apparently Guatemalan Banks do have the ability to do it."

The Spanish group TCB won the 25-year concession to operate the container terminal at Puerto Quetzal, which will initially have a 300 meter long quay, and will be equipped with four Ship-to-Shore (STS) cranes.

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.

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