New Container Terminal at Puerto Quetzal

After having signed a contract for leasing the land for 25 years, the Spanish company Terminales de Contenedores de Barcelona will invest $120 million in the project.

Friday, August 3, 2012

After a rumor had spread about a concession for Puerto Quetzal in Guatemala, which would have involved an international competitive tender, the controller of the port of Quetzal (EPQ), Allan Marroquin, yesterday informed Prensa Libre that "three week ago a contract was signed under which 35 thousand square meters will be leased to the Spanish company in Terminales de Contenedores de Barcelona (Grupo TCB). "

TCB will pay one million dollars per year and $4 per container handled for the usufruct granted.

Maritime employers who were consulted agreed that the port needs to be expanded to make it more efficient, but expressed surprise at the fact a tender had not been called so that more companies could participate.

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.

Local Funding for Container Terminal

August 2012

Guatemalan banks and investors will finance the Spanish company TCB for the construction of the new container terminal at Puerto Quetzal.

An article in reports that "The Catalan company TCB is seeking financing from Guatemalans banks and investors to obtain the $120 million needed to build the new container terminal at Puerto Quetzal", said Allan Herberth Marroquin, Controller of the port of Quetzal (EPQ).

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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