Foot-dragging by legislators threatens US$161 million Salvadoran port plan

Foot-dragging by Salvadoran legislators are threatening a US$161 million investment in the port of La Unión, a prominent business leader warned.

Monday, July 21, 2008

The port will be ready by November and a concession is to be granted to a world-class operator in the hopes of making La Unión a logistics platform for Central America.
But the law that is required for the concession has to be passed by Congress by the end of this month, yet it is still being debated by the finance commission.
"This is a disgrace," said Jorge José Daboub, president of El Salvador's Chamber of Commerce and Industry. The legislators who were causing the delay were doing so for political ends, at the expense of the nation's interests, he added.

More on this topic

Government to Award Concession of La Union Port

March 2011

By next week, the government will send to the National Assembly a draft law for the concession of the port of La Union.

The concession is to be developed under the “landlord” format, in which the State retains control and ownership of the assets but delegates responsibility to a private operator in order to develop the business on his own account and risk, stated Salvadoran president Mauricio Funes.

Concession Law for Salvadoran Ports Planned for October

September 2010

The Assembly is to receive the bill toward the end of next month and its approval is expected by the end of the year.

Should this happen, by the second half of 2011 the tender process could be launched, according to predictions by the International Finance Corporation (IFC) and El Salvador's state ports authority (CEPA).

El Salvador: CCIES Reelects President

February 2010

CCIES, the Salvadoran Industry and Commerce Chamber, elected Jorge Daboub for a consecutive fourth term as president.

At the general assembly of the Chamber, which took place at the Sheraton Presidente Hotel on Thursday, Jorge Daboub, an industrial and trading businessman, was elected again as president.

Concession for Salvadoran ports goes to the National Assembly

January 2009

The government will send the bill to the Legislative Assembly with a proposal for 90% of the shares to be owned by foreign investors and 10% by the State.

According to elsalvador.com: "The completed La Union Port will be turned over to President Elias Saca next Wednesday. That same day he will send the draft legislation for the concession of the port to the Legislative Assembly.

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