The Government of Ecuador has signed the first PPP project in the country to develop a new port terminal in Puerto Bolivar, in the municipality of Machala, El Oro Province. 

The concession agreement has been signed between the government and Yilport, a subsidiary of Yildrim Holding. The company will be responsible for the design, build, finance operation and maintenance (DBFOM) of the new terminal during the concession period.

The total project investment is estimated at US$750 million.

Puerto Bolívar is one of the world's largest shipment points for bananas, most of them destined for Europe. About 80% of Ecuador's banana production is shipped through these port facilities.

In early April we reported that the government of Ecuador decided to merge the Quevedo – Jujan road project and the Santo Domingo – Quevedo road project into a single concession after it requested qualification documents for the two projects separately. The new total project investment is estimated at US$1,481 million.