Government Pushes Forward with Landmark Port Project

The government is moving forward with an ambitious port project in Belize City that could transform the country’s logistics landscape and bring major economic benefits to local communities, including Port Loyola. Prime Minister John Briceño says the estimated cost of the project is around four hundred and ten million U.S. dollars, though the final figure is still being worked out. The government will soon issue a call for interest to attract companies willing to build and finance the port. Two major global players are already in the mix: SSA Marine, owned by BlackRock, and Global Port Holdings from Turkey. Both companies have extensive experience in port development across the region.

 

Prime Minister John Briceño

“The estimate is, I think, right now it’s about four hundred and ten million U.S. [dollars] but we don’t know the exact number yet. We will start negotiations, we’re going to be putting out a call of interest and see companies that we’re interested in building the port and funding the port. We still have to work out the actual details, and of course that will come to the Cabinet and the National Assembly, whatever it is that we agreed. The two major companies, known worldwide, SSA Marine, that’s owned by Black Rock, and Global Port Holdings from Turkey. Both of them have worked extensively in the region, they have done many ports and both of them have expressed serious interest and also they are looking at how they can provide the financing and then you payback, as usual, what they do with all ports, sharing a part of the head tax until it is paid back.”

 

Paul Lopez

“Talk to us about the potential benefit to residents in that area, Port Loyola residents.”

 

Prime Minister John Briceño

“It’s going to create a boom. There’s going to be a lot of economic activity there because we are looking at creating that as a logistical hub and no other company, Belize and outside, are thinking about seeing how they can set up shop in that area. We are seeing how they can set up shop in that area. We have six hundred acres and they have access to the port.”