Champerico port costs rise to US$37mn

- Friday, May 25, 2007

Champerico port costs rise to US$37mn

Costs for the construction of a fishing port at Champerico in southern Guatemala's Retalhuleu department have risen to 286mn quetzales (US$37.3mn), local daily Prensa Libre reported.

The national congress has approved an additional 52.7mn quetzales for the project, which previously cost 233mn quetzales, the paper reported.

The cost increase was passed because the original project budget did not account for supervision costs, or taxes to be paid for the construction works, the paper quoted legislator Víctor Ramírez as saying.

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The original project budget also did not account for a 4% commission to be paid to the International Organization for Migration to administer and inspect the project, which is being carried out by Dutch company Van Oord, the paper reported.

Dutch sources will provide 35% of the funding for the project, with the rest coming from the Guatemalan government.

Plans include building a breakwater and an artisans' fishing jetty, BNamericas reported previously.

Long-term goals include building an industrial fishing port, previous reports indicated.

Champerico, on the Pacific coast, has some 8,000 residents.

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