Ecuador turns to PPPs for US$1bn Guayaquil port plan

Ecuador unveiled a port development plan for the city of Guayaquil that will see more than US$1bn in investments during the next decades.

The plan was presented by President Lenin Moreno who said it was part of his vision of economic development through PPPs, according to a press release from the public works and transports ministry (MTOP).

The same ministry will be in charge of the plan, which is based on six pillars:

1. Improvements to roads between the Guayas and Santa Elena provinces to speed up cargo transportation between ports (US$230mn).
2. A new bridge between Guayaquil and the town of Durán (US$800mn). This project is expected to create 10,000 jobs, both directly and indirectly.
3. Expansion of the Guayaquil port's transport logistics center.
4. Creation of container storage center.
5. Rehabilitation of the port's floodgates to promote touristic development.
6. Creation of a technologic institute to boost education careers related to the port sector, international commerce and tourism.

During the announcement, Moreno underscored that he recently launched works for the new Posorja deepwater port, another PPP project that will demand an investment of US$1.2bn.