The original concession scheme to privatize El Salvador's La Unión-Acajutla port complex should not be modified because it has attracted the interest of multiple concessionaires around the world, industry and commerce chamber Camarasal president Jorge Daboub told BNamericas.
The El Salvadorian government's original proposal was to privatize the complex under a two ports, one operator model.
However, the proposal was rejected by the political opposition, and on July 29 President Antonio Saca appointed vice president Ana Vilma de Escobar head of a special committee responsible for creating a new privatization model.
On October 9, Escobar announced the government was preparing a decree to privatize the port under a mixed public-private concession plan.
"We believe we should not degenerate the original proposal. We are treading a fine line between making the project interesting or unappealing to international investors," Daboub said.
"Camarasal believes this is a valuable project, especially over the next two years, which will be marked by financial uncertainty and growth problems in almost all of Latin America," he added.
"We cannot allow this opportunity to go to waste. We cannot make mistakes and later lament that we did not realize its potential," he said.
El Salvador is in the middle of a presidential election and that makes projects such as La Unión-Acajutla hinge on political issues rather than technical arguments.
"We are convinced the best option is a master concession but that option has been discarded and now a mixed concession is being considered, which contemplates roughly 10% state participation," Daboub said.
To raise public awareness on this issue, Camarasal has launched a campaign to promote the advantages of privatizing the port to a world-class operator, showing how that would mean more employment.
"We are looking at Peru's experience with the expansion of Callao port, and how Dubai Ports World has created thousands of jobs. We are exerting pressure to ensure this project is completed in a satisfactory fashion and developed with a technical and economic vision, not with a political and ideological one," he said.
La Unión port is currently under construction by national port authority Cepa and slated for completion in November. The entity has invested US$161mn so far, and works are 83% complete.
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