Yılport Holding obtained the operating rights of Port Bolívar located in Machala, Ecuador for a period of 50 years on condition of making an investment of $ 750 million. Concession Agreement was executed on August 8, 2016 with a ceremony which approximately one thousand people attended. This project, in which Erdem & Erdem provided legal advice to Yılport Holding, is the biggest Turkish investment in Ecuador.
Port Bolívar, which is currently used for maritime trade, will become the biggest and most developed container terminal in Pacific coast of Latin America through the increase of the container capacity up to 2.5 million TEU with the investments to be made by Yılport Holding. Through this investment, the world's biggest container ships will be able to benefit from the port’s services.
Erdem & Erdem is proud to take place as legal counsel in this project of Yılport Holding, which operates 21 terminals in 8 countries. Our team led by Att. Özgür Kocabaşoğlu successfully conducted the negotiation and signing process of the agreement starting from the tender preparation stage in 2015. The term sheet of the project which constitutes an effective and up-to-date example of public private partnerships (PPP) had been signed in the presence of the President of the Republic of Turkey, Recep Tayyip Erdoğan and the President of the Republic of Ecuador, Rafael Correa in February, 2016.