El Salvador.com reports: "The decree project established a public - private model for the administration and commercial development of the megastructure, with will the international operator will provide 100% in staring capital in order to set up the mixed situation in the bidding process.

It was also made clear that the initial capital for the new mixed company that will be established for the port concession, base on the bidding, will be provided by the international operator in its totality.

Source: elsalvador.com

More on this topic

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.

El Salvador to Spend Millions Operating Port La Unión

August 2009

Lack of private capital interested in operating the port has forced the Salvadoran government to undertake its administration.

Guillermo López Suárez, president of CEPA, the port authority, confirmed the government's decision of assuming administration of the port, remarking that "this does not mean that a concession possibility is ruled out.

El Salvador: Port concession process under analysis

August 2008

Yesterday the Vice-president of the Republic headed the first meeting of the committee established to analyze the future concession process for the Salvadoran port system.

The schedule established by the Autonomous Executive Port Commission to grant concessions for the ports of Acajutla and La Union is being delayed due to the refusal of some lawmakers to approve the Government’s proposal.

Port chief says La Unión concession will earn El Salvador US$8 million a year

July 2008

El Salvador will earn US$8 million a year over the next 25 years from a concession to operate the port of La Unión, predicted Albino Román, president of the Autonomous Port Authority (CEPA).

Román said the projection was based on the minimum forecast for the volume of cargo. The 178,000 square-meter cargo terminal will have a 350,000 TEU (20ft equivalent) container handling capacity.