Saturday 12 June 2021

Nicaragua Needs More Ports

Image for illustrative purposes
Image for illustrative purposes

(TODAY NICARAGUA) The growth of the Nicaraguan economy is making clear the disadvantage of the country’s current dependence on the ports of neighboring countries.

Although improvements have been made to the port infrastructure at Arlen Siu, this single terminal is not enough for a country whose economy is growing at the pace it is in Nicaragua.

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The idea of building a port terminal of great magnitude on the Caribbean coast is something that the private sector has been insisting on, as an imperative to reduce dependence on Costa Rican ports and through this improve their export competitiveness factor.

“… According to the president of the National Port Company (EPN), Virgilio Silva, the Puerto Cortes in Honduras and at Puerto Limon in Costa Rica 4 million tons are shipped on vessels traveling to various destinations, mainly to Europe. ”

Revistaconstruir.com reports that “… The project that entrepreneurs are talking about was presented in early 2007 and it will be built in Monkey Point, with an investment of US $500 million, which could be financed by companies from South Korea. In 2011, the rules changed and officially it became known that the Brazilian construction firm Andrade Gutierrez was to become the second largest private investor in the country after signing a memorandum of understanding with the EPN to conduct pre feasibility and feasibility studies to build the port. ”

Article originally appeared on Todaynicaragua.com

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FACT CHECK:
We strive for accuracy in its reports. But if you see something that doesn’t look right, send us an email. The Q reviews and updates its content regularly to ensure it’s accuracy.

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"Rico" is the crazy mind behind the Q media websites, a series of online magazines where everything is Q! In these times of new normal, stay at home. Stay safe. Stay healthy.

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