Turkish company Yilport Holding invests $1.62 billion in the expansion of two ports in El Salvador

President of El Salvador Nib Buquela announced to the public that the Turkish company Yilport Holding is investing $1.62 billion in the expansion of two important ports in El Salvador. Yilport Holding will use the ports in conjunction with the local port authority. Bukele has posted a message in Turkish on the internet: "'Ülkemizin tarihindeki en büyük özel yatırım" (the largest private investment in our country’s history).

Yilport intends to triple the capacity of El Salvador’s largest port, Akahutla. The investment will also be directed towards the reconstruction of the eastern port of La Unyona, which was completed in 2008 but remains closed. According to Bouquele, in order for the port of La Unyonne to start operating, dredging work must first be carried out, which will allow larger vessels to enter. Yilport, together with the Autonomous Port Executive Commission of El Salvador (CEPA), will manage both ports on a 50-year concession. However, under Salvadoran law, such concessions may not exceed 40 years. Therefore, it is not clear whether the law will be amended for a 50-year period of operation.