SAN SALVADOR – President Mauricio Funes inaugurated the port of La Union on the Gulf of Fonseca, which El Salvador shares with Honduras and Nicaragua, with the aim of making the area a pole of development for the Central American country.
Funes, accompanied by Victor Hugo Garnica, the representative of the president of Honduras, on Monday officially initiated operations at the port that was completed by the construction company in early 2009, thanks to a loan from Japan.
The president said that the port cost some $200 million and that the way it will be administered in coming years has yet to be decided, though a concession for part of the operations might well be granted to a foreign company.
Funes also urged business owners to invest in the area in order to create a port city that will be a “pole of development” for the nation.
He promised that the port will become an “attractive” terminal for unloading cargoes bound for El Salvador and other Central American countries.
The office of the president said in a communique that in the last few months alone the government has invested some $8 million in different works to enable the port to start operations.
The whole construction project, originally conceived more than 10 years ago, has modern docks capable of providing anchorage for today’s immense vessels, as well as civil engineering works covering 117 hectares (289 acres).
The port was built by the Toa Corporation-Jan De Nul enterprise of Japanese and Belgian capital, with a loan of $107 million from Japan and $93 million provided by El Salvador. EFE