Erdem & Erdem has advised Yılport Holding on the largest Turkish investment ever seen in Ecuador. Yılport Holding obtained the operating rights of Puerto Bolívar Harbor located in Machala, Ecuador for a period of 50 years on condition of an investment of $750 million. The Concession Agreement was executed on August 8, 2016 with a ceremony attended by approximately a thousand people.
Puerto Bolívar Harbor, which is currently used for fruit and sea trade, will become the biggest and developed container terminal in Latin America’s Pacific Ocean coast through increase of container capacity up to 2.5 million TEU with the investments to be made by Yılport Holding. Thus the world's biggest container ships can approach the port and get service.
Erdem & Erdem is proud to take place as legal counsel in this Project of Yılport Holding conducting 21 terminal operations in 8 countries. Our team led by Att. Özgür Kocabaşoğlu, conducted successfully the negotiations and signing periods of the agreement starting from preparation of tender in 2015. The term sheet of the example for effective and current public private partnership (PPP) project was signed in the presence of the president of the Turkish Republic, Recep Tayyip Erdoğan and President of Ecuador, Rafael Correa in February, 2016.
