“The company Yilport Holding Inc. will allocate more than US$1,615 million to the Pacific Port Union. Here we will modernize the port of Acajutla and finally activate the port of La Unión,” says a video published on Sunday, August 11 by Bukele on his X account.
This is “the largest private investment ever made in El Salvador,” according to the video.
The port of Acajutla is located in the department of Sonsonate, 100 km southwest of San Salvador.
The port facilities of La Unión, where hardly any ships pass through due to lack of infrastructure, are located in the department of the same name, 185 km southeast of the Salvadoran capital.
Both ports are operated by the Autonomous Executive Port Commission (CEPA), a public entity that is independent of the government.
Economic Plan / Phase 3: Logistics
Economic Plan / Phase 3:
Logistics pic.twitter.com/2cmn8T3g5p— Nayib Bukele (@nayibbukele) August 12, 2024
According to the announcement, Yilport and Cepa will now operate “both ports for the next 50 years.”
“El Salvador is becoming a very important logistics hub in Latin America. With the largest private investment in the history of our country, we are going to strengthen our seaports,” said Cepa president Federico Anliker on his X account.
El Salvador is becoming a very important logistics hub in Latin America. With the largest private investment in the history of our country, we are going to strengthen our seaports. 🇸🇻 🚢 https://t.co/YiXQDHuzj3
— Federico Anliker López 🇸🇻 (@anliker1980) August 12, 2024
The investment, according to the Salvadoran government, will be carried out in stages and will begin at the end of the year.
The port of Acajutla will undergo modernization of its infrastructure to reduce port operating times and triple the terminal’s capacity.
At the Port of La Unión, dredging will be carried out to increase the depth and equipment such as cranes, loaders and backhoes will be purchased to activate the terminal.
Bukele “is betting on the sustained development of the country, which has continued to grow in areas such as local and foreign investment and exports, after the problem of insecurity was brought under control,” the Salvadoran government said in a statement.
In March 2022, the Salvadoran president declared a state of emergency that has led to the imprisonment of more than 81,000 suspected gang members and reduced levels of violence in the country.
However, human rights organizations question the detention of innocent people under this exceptional regime.
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