Turkey’s Yilport Holding has pledged to invest $750m in developing and modernizing the port of Puerto Bolivar in Ecuador as part of a deal it has signed for a 50-year concession at the port.
That investment would turn Puerto Bolivar into the largest container terminal on the Pacific coast of Latin America with the potential capacity of 2.5m teus.
Among the upgrades would be a new, longer quay and modern cranes.
It is located in Machala municipality in El Oro Province in the southwest of the country.
Puerto Bolivar is already one of the world’s largest shipment points for fruits and seafood.
Yilport Holding, a port operations specialist, is part of the Yildirim Group a vertically integrated industrial conglomerate based in Istanbul.