El Salvador is getting a massive infrastructure investment that will generate new and better trade opportunities for the country.

The President of the Republic of El Salvador, Nayib Bukele, said Monday in a post on X that Yilport Holding Inc. will invest over $1.615 billion dollars, marking the largest private investment in the country’s history.

As it is reported, Yilport Holding Inc. will invest over $1.615 billion dollars into the Pacific Port Union.

“This way we will modernize the Acajutla Seaport and finally activate the La Union Seaport. This project had been neglected by the previous administrations and it hasn’t operated since it was first built over two decades ago,” the presidency said in a post in the social media.

This agreement is a product of President Bukele’s visit to Türkiye in 2022.

“This will be a mixed-ownership company between the Yilport company and CEPA, which will operate both seaports for the next 50 years,” said the presidency of El Salvador in a video statement shared by El Salvador President Nayib Bukele on Monday.

The investment will be done in phases, starting at the end of this year.

“In phase one, we will improve the Acajutla port infrastructure and purchase new equipment to immediately reduce wait times at the port.

“In phase two, we will build new infrastructure and triple the capacity of the port terminal.”

At the La Union Seaport, the first phase includes dredging to maintain the necessary depth to activate the terminal, in addition to buying modern equipment such as cranes, loaders and backhoes.

According to El Salvador president, phase three will generate new and better trade opportunities for the country, starting with the Pacific Port Union.