The Central American Bank for Economic Integration approved a $21.4 million extension for the financing of the "Project to Improve the Technical and Operational Capabilities of Puerto Corinto."
This extension brings the total amount guaranteed to $184.6 million, making it the largest investment in the country's port sector in recent decades, informed the Central American Bank for Economic Integration (CABEI).
Water and sanitation works in Panama, improvements to a seaport and improvements to a bridge are part of the investments planned for the coming months in the region.
The interactive system "Construction in Central America", compiled by the Business Intelligence Unit at CentralAmericaData, includes an up to date list of public and private construction projects that are planned to be built in the coming months.
The construction of the new container terminal in Moin has rekindled business hotels, corporate machinery, transportation and others, in an area deprived of development factors.
Renting working machinery, hiring companies for events and renting hotel rooms are just some of the new business deals being generated in Limon, since construction of mega-port project at Moin started.
A call for expressions of interest has been made for the project "Reactivate, modernize and develop the port terminal of Punta Castilla, Trujillo, Colón" project.
From a statement issued by the Commission for the Promotion of Private Public Partnership in Honduras (Coalianza):
The Commission for the Promotion of Public-Private Partnership (COALIANZA), in exercise of the powers vested in the Legislative Decree No.
The Chinese government and the concessionaire HKND have announced that on December 22 work will begin on the project with the construction of secondary roads and ports.
In the first part of the presentation given by the Chinese company to the government and businessmen, feasibility, environmental, and social studies, for the market and design work were presented.
For the private sector work stoppages at the ports of Limon in Costa Rica, have reaffirmed the urgent need for the country to build a port terminal in the Caribbean.
Costa Rican ports move the majority of cargo from international trade from Nicaragua, therefore abnormalities in the terminal operations affect the transit of Nicaraguan goods, because of the lack of a port on the Caribbean coast.
Without revealing how it will be financed, HKND Group has presented a draft design which as well as the canal also includes deepwater ports, a free trade zone, a resort, an airport and an artificial lake.
Amid concerns about the lack of information regarding the source of funds to finance the mega project, the government of Nicaragua and HKND reported that the project, in addition to the construction of the canal, will include the construction of two deepwater ports, a free trade zone, a resort and an airport north of Rivas.
With an investment of $35 million the plan is to build a shopping center with movie theaters, a convention center and a hotel in Puerto Salvador Allende.
According to Virgilio Silva, CEO of the National Port Enterprise (EPN) , the construction of a shopping center with cinemas in Managua Malecon is very close to completion. Documentation has been formalized with Arab investors to develop the project which also includes the construction of a convention center and a hotel.
With $22 million the fishing port of Puerto Salvador Allende will be modernized and a marina, heliport, and shopping center with cinemas constructed.
This was announced by Virgilio Silva, CEO of the National Port Company (EPN). "The harbor, which is 1300 meters long, 10 meters wide and 10 deep, will be able to accept boats weighing up to 15 thousand tons ..." reported Elnuevodiario.com.ni.
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 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."
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.