ICT grants concession of Peninsula Papagayo port project - Costa Rica

December 28, 2005

Business News Americas

(BNamericas.com) - Costa Rica's tourism institute (ICT) has awarded a 20-year concession to group Marina Papagayo for the construction, development and operation of a berth at the Papagayo peninsula resort project, newspaper La Nacion reported.

The concession involves a US$15mn preliminary investment in developing a private quay to host some 370 boats on a 44ha area.

Peninsula Papagayo is a major tourist project being developed at Bahia Culebra, in northwest Costa Rica's Guanacaste province. The project has the backing of the Central American Bank for Economic Integration.

The project also involves the country's water and sewerage institute (AyA) investing US$25mn in works to provide potable water and irrigate the resort's golf course, according to reports.

BNamericas was unable to contact ICT officials given the institute is closed for the holiday season. - (BNamericas.com)

Copyright 2005 Financial Times Ltd.