Nicaraguan port

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Early warning signs point to a port in Monkey Point, on Nicaragua's southern Caribbean coast, involving an investment of $500 million by two South Korean companies, Dongmyeong Engineering and Ox Investments, which last month signed a memorandum of agreement with the Nicaraguan government.

 

Under the terms of the agreement, the companies will produce feasibility studies for the design and construction of the facility. The studies are scheduled to be ready in early 2011. Nicaragua is building a new highway between the southern Caribbean coast and the capital, Managua.

 

Currently, Nicaragua has no major Caribbean port, and commerce between Managua and other urban centers moves through the Pacific port of Corinto. This would be the second big project in a small area, located within a few hundred kilometers of a $1 billion expansion of Costa Rica's Moín port, construction of which is expected to start next year.