Turkey's Yilport unveils expansion plans for two ports in El Salvador

Turkish port operator Yilport Holding has confirmed its plans to invest the equivalent of approximately US$1.62 billion for the expansion and operation of two ports in El Salvador.

Yilport will operate the ports of La Union and Acajutla in partnership with El Salvador's Autonomous Port Executive Commission (Comison Ejecutiva Portuaria Autonoma; CEPA). These steps are in line with a broader plan of economic revitalisation that was announced earlier this week by Salvadoran President Nayib Bukele.

The works will entail tripling the existing capacity at the Port of Acajutla and dredging and major upgrades at the Port of La Union. The latter port, which lies on El Salvador's eastern coast, was completed in 2008 but has since remained closed.

Local media in El Salvador reported that the US$1.62 billion deal this is the largest single private investment in the country's history. Yilport's and CEPA's joint operation of the two ports will be in fulfilment of a 50-year concession agreement.