{"id":438054,"date":"2024-08-12T17:15:03","date_gmt":"2024-08-12T16:15:03","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=438054"},"modified":"2024-08-12T16:57:50","modified_gmt":"2024-08-12T15:57:50","slug":"el-salvadors-bitcoin-city-port-transformation-secures-1-6-billion-investment","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/el-salvadors-bitcoin-city-port-transformation-secures-1-6-billion-investment\/","title":{"rendered":"El Salvador&#8217;s Bitcoin City port transformation secures $1.6 billion investment"},"content":{"rendered":"<p>El Salvador President <a href=\"https:\/\/cryptoslate.com\/people\/nayib-bukele\/\">Nayib Bukele<\/a> announced that Turkish company Yilport Holdings will invest $1.6 billion\u2014the largest private investment in the nation's history\u2014to upgrade two ports, including one in the home of the proposed <a href=\"https:\/\/cryptoslate.com\/coins\/bitcoin\/\">Bitcoin<\/a> City, according to an Aug. 12 video <a href=\"https:\/\/x.com\/nayibbukele\/status\/1822974421142782176\">statement<\/a>.<\/p>\n<p>Bukele's video revealed that Yilport would be upgrading the ports at Acajutla and La Uni\u00f3n \u2014\u00a0 the latter being the site of the proposed Bitcoin City.<\/p>\n<p>President Bukele announced that this investment marks the third phase of his government's economic development program, focusing on logistics. He emphasized that this investment would create &#8220;new and improved trade opportunities&#8221; for the Central American country.<\/p>\n<h2>The investment<\/h2>\n<p>Yilport Holdings will form a joint venture with El Salvador's Comisi\u00f3n Ejecutiva Portuaria Aut\u00f3noma (CEPA) to manage the Acajutla and La Uni\u00f3n ports for the next 50 years.<\/p>\n<p>The project will unfold in phases, starting at the end of this year. The first phase will modernize Acajutla's infrastructure and acquire new equipment. The second phase will involve constructing additional infrastructure to triple the port's capacity.<\/p>\n<p>Conversely, the initial phase at La Uni\u00f3n, which has been unused for nearly two decades, will focus on dredging and procuring new equipment.<\/p>\n<p>Mauricio Ortiz, a member of El Salvador's Legislative Assembly, <a href=\"https:\/\/x.com\/MauricioOrtizES\/status\/1822811604670464058\">said<\/a>:<\/p>\n<blockquote><p>&#8220;Investing in the modernization of the port of Acajutla (modernization and tripling of its current capacity) and rescuing the port of La Uni\u00f3n is extremely key to generating economic dynamism in the country through foreign investment and local employment.&#8221;<\/p><\/blockquote>\n<h2>Bitcoin city<\/h2>\n<p><a href=\"https:\/\/cryptoslate.com\/el-salvador-releases-mock-up-of-bitcoin-city-whats-the-verdict\/\">Bitcoin City<\/a> is one of President Bukele's most <a href=\"https:\/\/cryptoslate.com\/insights\/el-salvador-reveals-bitcoin-treasury-holdings-totaling-over-5700-btc-worth-roughly-360-million\/\">ambitious projects<\/a>. The proposed city aims to be a tax haven and will leverage geothermal energy for Bitcoin mining.<\/p>\n<p>Plans for the city include residential areas, commercial hubs, museums, entertainment venues, bars, an airport, a port, and rail connections.<\/p>\n<p>Bukele announced the project in 2021, promising funding through the <a href=\"https:\/\/cryptoslate.com\/el-salvadors-bitcoin-bonds-set-to-launch-after-gaining-regulatory-nod\/\">Volcano Bond<\/a>. However, construction has yet to commence.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>El Salvador President Nayib Bukele announced that Turkish company Yilport Holdings will invest $1.6 billion\u2014the largest private investment in the nation&#8217;s history\u2014to upgrade two ports, including one in the home of the proposed Bitcoin City, according to an Aug. 12 video statement. Bukele&#8217;s video revealed that Yilport would be upgrading the ports at Acajutla and [&hellip;]<\/p>\n","protected":false},"author":720,"featured_media":438070,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1,35372],"tags":[76895],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>El Salvador&#039;s Bitcoin City port transformation secures $1.6 billion investment<\/title>\n<meta name=\"description\" content=\"El Salvador secures historic $1.6 billion port investment from Turkish firm.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/el-salvadors-bitcoin-city-port-transformation-secures-1-6-billion-investment\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"El Salvador&#039;s Bitcoin City port transformation secures $1.6 billion investment\" \/>\n<meta property=\"og:description\" content=\"El Salvador secures historic $1.6 billion port investment from Turkish firm.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/el-salvadors-bitcoin-city-port-transformation-secures-1-6-billion-investment\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2024-08-12T16:15:03+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-08-12T15:57:50+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2024\/08\/elsalvador-bitcoincity.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Oluwapelumi Adejumo\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Oluwapelumi Adejumo\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/el-salvadors-bitcoin-city-port-transformation-secures-1-6-billion-investment\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/el-salvadors-bitcoin-city-port-transformation-secures-1-6-billion-investment\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#person\",\"name\":\"Oluwapelumi Adejumo\",\"url\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/10\/profile-oluwapelumi-adejumo-1-300x300.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/10\/profile-oluwapelumi-adejumo-1-300x300.jpg\",\"caption\":\"Oluwapelumi Adejumo\"},\"jobTitle\":\"Senior Reporter\",\"description\":\"Oluwapelumi values Bitcoin's potential. 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