Turkish port operator Yıldırım Holding to construct port in Ecuador

Yıldırım Holding will invest in the construction of a port in Ecuador, and the framework agreement for the $750 million project was signed in Ecuador's capital, Quito, during President Recep Tayyip Erdoğan's visit to Ecuador.

Speaking to Anadolu Agency about the project, Yıldırım Holding CEO Yüksel Yıldırım noted that the project would be completed in five phases, each with 500,000 TEU capacity, and $240 million would be invested in the first phase, using the holdings equities plus loans. The project will be Turkey's biggest investment in the country, and once completed, the port will be the largest container port on the Pacific Ocean coast of Latin America.

"This will be a crucial port in the YILPORT network, once we include it in our global port portfolio. Mostly bananas, shrimps, other seafood and mineral products will be exported from the port, known as Puerto Bolivar, which at the same time will support the exports of the country," said Yıldırım.

The dredging depth will first be 14 meters, and then will increase to 17 meters to allow even the largest vessels to moor. The handover ceremony for the port is scheduled to be completed in April.