After having signed a contract for leasing the land for 25 years, the Spanish company Terminales de Contenedores de Barcelona will invest $120 million in the project.

After a rumor had spread about a concession for Puerto Quetzal in Guatemala, which would have involved an international competitive tender, the controller of the port of Quetzal (EPQ), Allan Marroquin, yesterday informed Prensa Libre that “three weeks ago a contract was signed under which 35 thousand square meters will be leased to the Spanish company in Terminales de Contenedores de Barcelona (Grupo TCB). ”

TCB will pay one million dollars per year and $4 per container handled.

Maritime employers who were consulted agreed that the port needs to be expanded to make it more efficient, but expressed surprise at the fact a tender had not been called so that more companies could participate.

Source: PrensaLibre.com