The opposition to the Nicaraguan government insists on greater transparency in the $500 million Atlantic port development project.
Edmundo Jarquín from the Sandinista Renovation Movement (MRS) questions aspects of the memorandum signed by Nicaragua’s Ports Authority and two companies from South Korea, in charge of the development.
His first observation is that, “a search for information about the South Korean companies does not provide any evidence that they are capable of taking on a project of such magnitude”, according to Laprensa.com.ni.
Two Korean companies have signed an agreement with the Nicaraguan Ports Authority to design and build the Caribbean port.
The memorandum of understanding signed by the South Korean companies Dongmyeong Engineering & Architecture Consultants (DMEC) and Ox Investment states that the project will require investment of $500 million.
The president of the Nicaraguan Construction Chamber, Mario Zelaya, believes that this project is key to the future of construction in Nicaragua. Local developers expect to take part in the works, especially in the construction of the port’s administrative areas.
The resources will be used to finance three sea terminals and their maintenance.
Virgilio Silva, president of EPN, the Nicaraguan Ports Corporation, explained that $22 million will be used to fund 50% of the construction costs of a port in Bilwi.
“It will be a concrete port, 1.000 meters long, 10 meters wide and 10 meters deep”, explained Silva.
He also commented that the design of the Monkey Point Port is ready, but lack of a proper port law is delaying the public bidding process.
A new dock, measuring 1 kilometer long and 10 meters deep will allow cargo ships up to 15.000 tons.
This new dock, located in the city of Bilwi (Puerto Cabezas), will help the country increase commerce at its Atlantic coastline, reported Virgilio Silva, head of the National Ports Corporation.
"Bilwi sea terminal will be a modern one..., it will feature a concrete dock 1000 meters long, 9 meters wide and 10 meters deep...", reported Prensa Latina.
The Association of Producers and Exporters (APEN), together with the state's port company, are analyzing improving the services offered by the sea port.
The project, submitted by Azucena Castillo, APEN Manager, will help producers by lowering shipping costs and reducing delays.
"Castillo explained that Nicaraguan exporters have shipped over $196 million worth of merchandise through Honduran Port 'Cortés' in 2009 ...
Improvements include a redesign of the general loading dock and a new balance.
Rodolfo Sandino, the General Manager of the Corinto Port Company, indicated that, in October, they will install an autonomous station with 36 additional spaces for products requiring special temperatures.
An article in Elnuevodiario.com.ni explains the works: "...construction of a reinforced concrete monolithic flagstone ...
The port project at Monkey Point, on the southern Caribbean coast and for which studies have already been completed, will have a global impact as it will have to capacity for 100 thousand ton ships to dock there.
A model from the National Port Company (EPN) indicates that the Monkey Point port, when completed, will include: storage for bulk cargo, cold-storage container terminal, liquid cargo terminal, cruise ship area, free zone, grain silos, railway, heliport and probably even an airport, to name a few. The port is expected to be one of the best in the region. The project is urgently needed by the business sector of the country, which has seen the export of their products grow more expensive at close to $1000 per container, since they have to transport their cargo to Puerto Cortes, in Honduras, and to Limon, in Costa Rica, in order to sell in Europe, the east coast of the United States and other markets.
The National Port Company has announced the construction of four docks for use by fishermen and tourists on the coasts of Puerto Morazán, Somotillo and El Viejo.
José Genet Barberena, Manager of Ports Coordination for the organization, said the first dock will be built as part of the Tri-National Accord of the Gulf of Fonseca, in the port of Potosí.
A group of American investors is looking at investing in construction of a 350 million dollar deep-water port on the Caribbean coast of Nicaragua at Monkey Point.
Bill Johnson, director of the Miami-Dade County Port, is visiting Nicaragua at the invitation of the state-owned National Port Company, Virgilio Silva, to explore the possibilities for such an investment.
Nicaragua's President, Daniel Ortega, has inaugurated Port Salvador Allende on the shores of Lake Xolotlán.
The executive president of the National Port Enterprise, Virgilio Silva, said the construction of the port, together with other investments made last year, was done at a cost of six million dollars.
The new port was built to provide Managua with a lake link to San Francisco Libre, where port facilities will be officially opened in 90 days' time.
American investors say they plan to build a toy factory in the Free Trade Zone at Puerto Cortés in Honduras.
The investors, Chris Haughey and Craig Doesher, said they first intended to set up a factory in the Amarateca Valley, but they are also looking at alternatives.
The factory will make the toys from wood.
Nicaragua intends to give concessions for port investments, a theme that will be addressed at the 29th Meeting of Port Companies of the Central American Isthmus, which begins today.
Virgilio Silva, head of the National Port Company (EPN), says this possibility is being contemplated in a law the National Assembly is currently analyzing.
The text of the bill includes establishing shared investments in mixed entites to build docks.