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Turkey-based YILPORT Holding announced a $1.62 billion investment to increase and operate the capacity of two major ports in El Salvador, the first country to accept Bitcoin as an official currency. This investment is being implemented as part of El Salvador President Nayib Bukele’s economic revival strategy. With this project, YILPORT plans to triple the capacity of Acajutla, El Salvador’s largest port, and reopen the La Union port, which has been closed since 2008.
Investment Drive in South America
YILPORT Holding continues its investment moves targeting strategic points in Central America. Having previously operated port operations in countries like Guatemala, Ecuador, and Peru, the company now targets two major ports in El Salvador. Acajutla Port, the country’s largest trade gateway, handled 3.1 million metric tons of cargo as of 2024. Increasing this port’s capacity is expected to significantly boost El Salvador’s foreign trade volume.
La Union Port, although completed in 2008, has not been operational until now. YILPORT’s plan to invest in reopening this port is considered a major gain for the country’s economy. Deepening the port and making it suitable for large ships will bring new life to the region’s trade traffic.
50-Year Operating Agreement Signed
The agreement between the El Salvador Government and YILPORT envisions the joint operation of both ports for a 50-year period. However, this agreement exceeds the 40-year limit specified in Salvadoran laws. This was made possible by creating a new structure defined as a “mixed economy company.” This structure allows for long-term cooperation independent of legal limitations.
This investment move stands out as a strategic step that strengthens not only El Salvador’s but also YILPORT’s position on the global stage. Turkey’s ownership of more ports worldwide can be considered a significant gain both economically and politically. This investment, aligned with El Salvador’s economic revival plans, will reshape the region’s trade dynamics and solidify YILPORT’s presence in Central America.
The move in El Salvador has also attracted the attention of the cryptocurrency world. This is because El Salvador is known as the Bitcoin country. Additionally, President Nayib Bukele frequently makes strong support statements about Bitcoin. The country is known to currently own more than 5,800 BTC.
