The port of Posorja received $ 377 million for the first phase of the construction

Ecuadornews:

The DP World Posorja deep water port received $ 377 million in financing from BID Invest, the private sector institution of the Inter-American Development Bank Group (IDB), for the construction, operation and maintenance of the first phase of the project.

The financial package is divided into a loan of $ 144 million and the mobilization of resources from other investors of $ 233 million, of which $ 50 million comes from the Chinese Fund for the Co-financing of the Americas.

The financing of the agency is for a term of 15 years, which is not available in Ecuador and is necessary to ensure its financial sustainability. In the first phase it will have an estimated capacity of 750,000 TEU (unit equivalent to 20feet), it will compensate the expansion and load limitations of Guayaquil.

Once the port is finished, vessels of up to 15,000 TEU can operate. The activity of this new infrastructure will generate more than 480 jobs. With the participation of BID Invest, better environmental and social practices have been adopted in the execution of the project, and the search for solutions for the reduction of greenhouse gases in the port sector of Ecuador. (I)

Source: https://www.eltelegrafo.com.ec/noticias/economia/4/puerto-posorja-desembolso-primera-fase-obra