Nicaragua partners with Cabei to advance deepwater port project

The Nicaraguan government is finally moving forward with its plan to build a deepwater port in Bluefields on the country’s Caribbean coast.

After several years of delay, the transport and infrastructure ministry (MTI) signed a collaboration agreement this week with the Central American Bank for Economic Integration (Cabei) to advance the port project, as well as other projects to bolster the country’s infrastructure. 

“Through this collaboration we will support Nicaragua’s efforts and share best practices and international standards to make the Bluefields project a reality, among other economically and socially relevant projects,” said Cabei’s executive VP, Jaime Díaz.

The deepwater port will reduce Nicaragua’s dependence on ports in Costa Rica and Honduras, and lower costs for its export sector. 

The port will help the country double its current exports of around US$600mn in five or six years, according to finance minister Iván Acosta.

When plans to build the port first emerged in 2015 the authorities said it would have a depth of between 8m and 10m, and be able to receive ships carrying 5,000-10,000 of deadweight tons.