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Yilport investing $1.6 billion in two El Salvador ports

Turkish port operator Yilport Holding plans to spend $1.62 billion on expansion of two ports in El Salvador, the country’s largest ever private investment.

Michele Labrut, Americas Correspondent

August 16, 2024

1 Min Read
Acajutla port El Salvador Google Maps
Photo: Google Maps screenshot

Yilport will operate the ports of La Union and Acajutla in partnership with El Salvador's Autonomous Port Executive Commission (Comison Ejecutiva Portuaria Autonoma; CEPA).

These steps are in line with a broader plan of economic recovery announced earlier this week by Salvadoran President Nayib Bukele.

The works will entail tripling the existing capacity at the Port of Acajutla and dredging and major upgrades at the Port of La Union. The latter port, which lies on El Salvador's eastern coast, was completed in 2008 but has since remained closed.

Local media in El Salvador reported that the $1.62 billion deal would be the largest single private investment in the country's history.

Yilport's and CEPA's joint operation of the two ports will be in fulfilment of a 50-year concession agreement.

 

 

About the Author

Michele Labrut

Americas Correspondent

Michèle Labrut is a long-time Panama resident, a journalist and correspondent, and has continuously covered the maritime sector of Central & Latin America.

Michèle first came to Panama as a press attaché to the French Embassy and then returned to the isthmus as a foreign correspondent in the 1980s.

Author of Seatrade Maritime's annual Panama Maritime Review magazine and of several books, Michèle also wrote for Time magazine, The Miami Herald, NBC News and the Economist Intelligence Unit. She has also collaborated in making several documentaries for the BBC and European and U.S. television networks.

Michèle's profession necessitates a profound knowledge of the country, but her acumen is not from necessity alone, but a genuine passion for Panama.

In 2012 she was awarded the Order of Merit (Knight grade) by the French Government for her services to international journalism and in 2021 the upgrade to Chevalier grade.

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