The amount of the loan ascend to 377 million dollars, to finance the construction of Phase I of the project.
Guayaquil, November 2018.- “The granting of this loan makes us proud, supports our seriousness and shows the confidence and global interest that this project has attracted,” says Jorge Velasquez, General Manager of DP World Posorja.
Within the investment plan for the First Phase of the Project that contemplates the construction of the Deep Water Port in Posorja, a 20 km road that connects Playas with Posorja, as well as the dredging of a new navigation channel of 16.5 meters depth. DPWORLD POSORJA S.A. has signed a credit agreement with the Inter-American Development Bank, two investment banks of France and Germany and the Chinese Fund for the Cofinancing of the Americas, for US $ 377 MILLION out of a total of US $ 539 MILLION allocated to the first phase.
According to Velasquez, “this loan, plus the initial capital invested by the shareholders, allows us to complete our investment schedule, which will give way to start our operations in the second half of 2019.”
The Manager of DP World Posorja reiterates that receiving a loan for such an important amount from multilateral credit organizations has a meaning that should be highlighted: “the viability of the project, its development potential, the credentials of the credit recipient, are meticulously revised; it means that they trust in the project, in DP World and in Ecuador as a country to invest, “he concludes.
In addition to the usual analyzes and requirements for a financial operation of this magnitude, the Inter-American Development Bank also requires good environmental and social practices, DP World’s plans and projects in these areas have been reviewed and approved by this multilateral organization.