Yilport Terminals has announced it has begun the construction of a new pier at Port of Bolivar, its main trade hub in Ecuador.
In a statement made on LinkedIn, the terminal operator said it had completed the “expropriation process” for the construction of the new pier. A ceremony was held to mark the event, which was attended by Ecuador’s Minister of Transportation Gabriel Martinez and Puerto Bolivar General Manager Alfredo Juardo.
The new pier will be 450 meters in size and will cost approximately $176 million. YILPORT Puerto Bolivar General Manager emphasized that “We are so happy. We have been waiting for this moment for quite some time.
Juardo hailed the progress made and also commented on the expansion of the Port’s yard operations:”I would like to thank Mr. President Lenín MORENO, Evelyn (APPB), Machala Mayor Dario MACAS, Minister of Transportation Gabriel MARTINEZ and Undersecretary of Ports Veronica ALCIVAR who made it possible to finalize the expropriation. In addition, our first delivery of ship-to-shore (STS) and rail mounted gantry (RTG) cranes will arrive in January 2021.
“We are glad to be able to be a part of the development of El Oro province.”
Bolivar is the third biggest port in Ecuador behind the ports of Guayquil and Esmeralda. However, it handles the majority of the country’s banana trade, which makes it critical for its gross domestic product (GDP).
Approximately 3 million tonnes of bananas are exported through the Port every year, the majority of which goes to Europe. Its other major commodities include concentrated copper and paper pulp.
This makes it a vital gateway for refrigerated (reefer) trade, a growing sector in the container shipping industry as consumer habits in Europe and North America change.