Funes Sanctions Law on Port Concession

The Salvadoran President Mauricio Funes, has passed a law granting the concession for ‘La Union’ port.

Friday, October 7, 2011

A press release from the Presidency of the Republic of El Salvador reads:

The president passed on Wednesday, October 5, 2011, the "Law on the concession for the multi-purpose port specializing in containers, Phase I, the port of Central American Union", approved with 71 votes in the Legislative Assembly on 8 September.

The legislation was presented to Members on 21 March this year on the initiative of the President, through the Minister of Public Works, and consists of 28 articles in which the concession conditions for this infrastructure are set out.

The concession process, according to the law, will be the responsibility of the Autonomous Executive Port Commission (CEPA), an entity that will create an international public tender for selecting a company specialized in handling containers.

The Act provides that the concession period will be up to 30 years and the company who wins the tender will be responsible for administration, equipment, commercial exploitation, infrastructure development, promotion, international positioning and generating business in the port .



More on this topic

El Salvador Approves Law on Port Concession

September 2011

The Legislature has passed a law allowing the concession for the Puerto La Union.

The new legislation will grant a concession of up to 30 years for the port terminal to private companies, who must invest $30 million in the first five years of the concession for equipment and operation of the terminal.

Law On Port Concession in El Salvador

August 2011

Members of the Finance Committee have reached a consensus on the concession system to be used for operations at the La Union port.

Almost three years after the inauguration of the terminal, and after losses close to a million dollars a month, ministers have reached a consensus and believe that the conditions have been set, ready for the project to be approved in the Legislature Assembly as soon as possible.

Concession Law for La Union Port

March 2011

The bill provides for a 30 year concession and an investment plan of at least $30 million.

The company winning the bid will implement the investment plan during the first five years.

"The Minister of Public Works, Gerson Martinez, confirmed that the project will operate under the 'Landlord' system," informs Elsalvador.com.

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.

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