ISTANBUL area Yildirim Group unit Yilport Holding has secured the rights to operate Puerto Bolivar Port in Machala City, Ecuador, reports St Petersburg's PortNews.
Turkey's Yilport wins 50-year concession at Ecuador's Puerto Bolivar CT ISTANBUL area Yildirim Group unit Yilport Holding has secured the rights to operate Puerto Bolivar Port in Machala City, Ecuador, reports St Petersburg's PortNews. In the 50-year concession, Yilport is committed to invest US$750 million to be spent in five phases for the development and modernisation of the port, creating Latin America's largest container terminal with an annual capacity of 2,500,000 TEU. Yilport Holding added the 21st port to its global portfolio in its drive towards being ranked among top 10 international port operators by 2025. The signing ceremony in Puerto Bolivar in Machala, Ecuador was attended by President of Ecuador Rafael Correa, Minister of Transport Walter Solis, and an audience of more than 1,000 people. Yilport Holding chairman Robert Yuksel Yildirim, President Correa and Mr Solis gave speeches before signing the concession agreement. Yilport Holding runs 21 terminals in eight countries. Puerto Bolivar is already one of the world's biggest shipment points for fruit and seafood. More than $230 million will go in the first three-year phase, to dredge the port from 10 metres first to 14 and then to 17. A new 450-metre quay will also be built. Then the terminal will be equipped with modern infrastructure and cranes, enabling the biggest boxship in the world to berth and receive services at Puerto Bolivar.