CUTUCO PORT PROJECT
Source (Comisión Ejecutiva Portuaria Autónoma)
http://www.cepa.gob.sv/cobalt/cutuco.htm
Given the actual conditions of Cutuco Port and its infrastructure, the Salvadorian government with the goal to promote and encourage the international commerce, has conducted a study, with the help of the Japanese government, a study to reactivate the port activity in the oriental zone of the country, which includes the construction of a new Port in La Union.
For the construction of the new port, the actual site of the Cutuco Port has been chosen, in order to take advantage of the natural resources of the bay. With this Port the country will have an alternative port for maritime transportation, which will promote the economical and sociological development of this part of the country, and the country itself.
BRIEF SUMMARY OF THE PROYECT "PORT DEVELOPMENT AT LA UNION"
GENERAL DESCRIPTION OF THE PROJECT
The construction of the new port consists in developing an infrastructure for port activities at La Union's bay of approximately 117 hectares, on which has been scheduled to build a pier of 560 mts in length with a draft of 14 mts (Low Tide) and a terminal area of 28 hectares for its first phase. The terminal will be equipped to handle bulk cargo and containers. Additionally the port will have a terminal equipped to handle cruise ships of up to 240 mts in length and 9.5 mts of draft.
The 89 hectares left will be destined for the development of industrial activities related to the port, as well as the future growth of the port itself.
The project takes into account the improvement of the access channel and the basin dock (Vessels Maneuvering Zone) of up to 14.5 mts of depth (Low Tide) to ensure the flow of vessels at all times.
FINANCES
To finance this project, the Japanese government has approved a loan of 11,233 million yens, equivalent to approximately 90.0 million dollars, through the Japanese Bank of International Cooperation (JBIC).
The finances specifics go as follows:
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Interest Rates: |
2.2% (Infrastructure and Equipment)
0.75% (Consulting Services) |
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Payment Period
(Grace Period) |
25 years (7 years) Infrastructure and Equipment
40 years (10 years) Consulting Services |
The construction of the port will be assigned by an international licitation and the port operation will be consetioned to the private sector.
ADVANTAGES OF THE CONSTRUCTION OF THE NEW PORT
1. A port with favorable natural resources that guaranties safety during operations.
2. Will provide an alternate port to Acajutla Port.
3. Strategically well situated close to the neighboring countries.
4. Existing various access routes that only need to be improved.
5. Offers and additional alternative to the development of the dry channel.
6. An specialized facility equipped to handle containers, which will be able to handle entirely this type of cargo for El Salvador.
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SOCIAL AND ECONOMICAL BENEFITS
1. It will create a development pole in the oriental zone of the country, hence responsible for directly
generating employment. According to the feasibility study, the first phase of the project will
generate the following jobs:
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During Construction: |
450 |
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During Operations: |
500 Port Operations
2,500 Port related activities
10,000 Free Zone |
2. It will capture cargo for the southern regions of Honduras and Nicaragua, accompanied with its
economical benefits to the country.
3. Living conditions will be improved and welfare will be promoted throughout the population of the
oriental zone of the country.
4. National and international investment will be promoted.
5. Significant savings transferred to land transportation and the handling of containers from El Salvador's
Ports to the neighboring countries. |
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