$1 Billion Port Construction
A ceremony was held to mark the start of construction of the greenfield multi-purpose port project at Posorja, Ecuador. This port has been designed to serve the growing needs of global markets.
The $500 million initial investment (Phase 1) includes the purchase of land, dredging of a new access channel, a 20-kilometre access road and a 400-metre berth equipped to handle containers and other cargo. While work began in July on nearby access roads, construction of the port, which is located 65 kilometers from the country’s main business city of Guayaquil, is expected to take around 24 months to complete.
This is an important landmark in Ecuador’s growth story – the first public-private partnership that will benefit the local economy and change forever the way it trades with the world. This project will dramatically improve the global competitiveness of Ecuadorian exporters.
The news is collated by ChinaRubberFender.com – Marine Fender Supplier.
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