Announcements have been made citing more impetus for the development of the Caribbean Coast based around modern port infrastructure which meets international market requirements.
"In the Caribbean region there are few roads, low levels of population concentration, low levels of skilled labor and therefore the project will be carried out as a mega project to develop the Caribbean coast," said Hugo Lopez Sanchez, Deputy Director General of the Directorate General of Water Transport (DGTA by its initials in Spanish), at the Ministry of Transport and Infrastructure (MTI).
The Panama Canal expansion has generated a wave of investment in port infrastructure, especially in warehouses and distribution centers.
While waiting for the opening in 2015 of the expanded Panama Canal, the ports of the United States are preparing to compete for the lucrative increase in trade that is coming.
Developers, investors and the logistics industry are counting on ports, confident that these will be the main beneficiaries of the expansion of the Canal, which is expected to provide a big push for ports on the East Coast and the Gulf of Mexico, and for the logistic facilities strategically located near them.
Nicaragua's government will invest $ 3.5 million in the renovation and expansion of the cruise port, and then hand over its administration to Royal Caribbean.
Last July it was announced that "the U.S. shipping company Royal Caribbean presented Nicaraguan authorities with an investment project in the town of San Juan del Sur on the Pacific side of the country, which aims to provide adequate facilities for boats and large cruise ships. "
An international call for expressions of interest is being made to companies with experience in port works, for the construction of a Solid Bulk Terminal at Puerto Cortés.
Country: HONDURAS
Project: MODERNIZATION PROJECT bulk solids terminal at Puerto Cortes.
Title: CONTRACT FOR THE CONSTRUCTION OF SOLID BULK TERMINAL
The Brazilian construction company Andrade Gutierrez has retired from the Monkey Point project, and the government of Nicaragua recognizes that "it is not easy to make it happen."
An article in Prensa.com.ni reports that "The prefeasibility and feasibility studies made by Andrade Gutierrez have revealed that the construction cost per kilometer of the port would be about two million dollars, according to information provided to the press.
Adding to its investments in Colon in Panama and Roatan in Honduras, is a further $40 million which will go into San Juan del Sur in Nicaragua, in an exclusive terminal for cruise ships.
The Nicaragua project was announced earlier last year, but has not been firmed up since.
Now an article in Elnuevodiario.com.ni reports that "the news last week was reconfirmed by the Deputy Mayor of San Juan del Sur, Rivas Adelina, and a host of personalities from the Chambers of Tourism and the Government. Among them was the chief executive of the Nicaraguan Tourism Institute, Intur, Mario Salinas. Everyone was enthusiastic about the initiative."
APM Terminals has signed a concession contract for 32 years to build and operate a container terminal with an investment of $900 million.
The start of construction is scheduled for September. This first stage, at a cost of $300 million, should be completed in 2015.
"The company said, through a statement, that they have signed a concession for 32 years with the Port Authority of Lazaro Cardenas (APILAC) for the design, financing, construction, operation and maintenance of a new and specialized terminal", reported Americaeconomia.com.
The Grand Inter-oceanic Canal yes ... but an immediate, concrete, achievable short-term project with huge impact on the Nicaraguan economy, is the Port of Monkey Point.
From Informe de Pastran June 20, 2012:
"For the Nicaraguan private sector, the construction of a deepwater port on the Atlantic, particularly at Monkey Point, is of a higher priority than the long-term canal project ...
With an investment of $15 million, the first tourist marina located in the Nicaraguan Pacific continues its expansion plans.
Roberto Membreño, founder and director of the Marina, expects that the works will involve the construction of two buildings with 32 luxury apart-hotels each with two, three or four bedrooms.
The works will last 18 months and will generate five hundred jobs.
The Brazilian construction company Andrade Gutierrez will conduct feasibility studies for construction of the port in the Nicaraguan Caribbean.
The agreement, which will be signed before August 21, will allow the construction company to perform economic and environmental feasibility studies and evaluate whether starting the project is viable, said Javier Chamorro, Executive Director of ProNicaragua to La Prensa.
Although they have not reached an agreement with the authorities, there is still interest in participating.
The participation of Koreans as investors in the construction of the deepwater port has generated controversy recently, after government officials expressed that there is disagreement between the two parties.
Although the deal has not been finalised, due to differences in interest rates and terms of investment, the Asians have made their intention to fund the project clear.
The government has rejected Korean proposals for financing the proposed deepwater port at Monkey Point in the South Atlantic.
The head of the National Port Enterprise (EPN in Spanish), Virgilio Silva said the negotiations with the Korean businessmen have so far not been beneficial for the country. The investment promotion agency Pro Nicaragua is seeking new investors.
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.
Work to expand and upgrade ports in Central America is coming in fits and starts as port authorities and national governments grapple with governance and social issues.
“All of the Central American ports have some expansion in mind, some more than others,” said Mike Hopkins, vice president of operations in the U.S. for Crowley Maritime Corp., a shipping line active in the U.S. trades with Central America and the Caribbean.
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.