Government Looks to Offer Concessions for Development of 2 Ports

Costa Rica's government is planning to concession a new us$500 million terminal as well as port services at the existing Limón and Moín terminals on the Caribbean coast, the local financial newspaper, Capital Financiero, quoted institutional coordination minister Marco Vargas as saying.

The decision comes after studies were carried out at both ports and after government officials received advice from the World Bank (WB) on seeking infrastructure development through private investment.

Authorities are looking to launch a concession process in 10 months to build and operate a new cargo terminal in an effort to promote development.

The project to build a large container transfer terminal would cost an estimated us$500 million and take about five years to complete. Located in Moín, about 10km away from Limón, the port's strategic setting would allow for the access of large ships.

The government is also looking to invest a total us$70 million in the upgrade of the existing Moín and Limón port terminals, to then offer them under concession.

Authorities expect to get the congressional nod for us$70 million funding, which has already been approved by the WB, to carry out the works.

State officials have still to define the dates to launch the concession tenders. They will be clearer once authorities obtain the funding to upgrade the ports, the official said.

Back