Italian Company to Build Coastal Road in Nicaragua

The government has signed agreement of understanding with an Italian consortium for the design and construction of the road with an investment of $200 million.

Tuesday, November 22, 2011

The Italian consortium composed of Unieco, CCC and Pizzarotti, will present in January next year designs for the 138 km road that begins in El Naranjo, on the border with Costa Rica and extend to Masachapa, in the capital.

The executive president of the Nicaraguan Institute of Tourism, Mario Salinas, said the project will be funded by the consortium which will build and operate the concession road for at least twenty years.

"The Project Coastal Highway or Pacific Tourist Route, as it is known, started in 2010 with the construction of the first two kilometers, of which there are now seven, from San Juan del Sur, a paving project that was supported World Bank and government resources.

The paving works extend from the edge of San Juan del Sur to the beach of El Ostional, in Rivas", reports Elnuevodiario.com.ni

More on this topic

Tourism: Interest from European Investors in Nicaragua

October 2011

The project attracting the most attention from Italian road building companies was the coastal road on the south coast, being seen as a hub of tourist development.

During the Encuentro Empresarial (Business Meeting) between Nicaragua and Europe, Italian and Spanish investors expressed their interest in investing in the tourism sector.

Nicaraguan Tourism Industry Continues to Grow

March 2011

Industry insiders expect 8% to 10% growth in 2011.

Businessmen are basing their expectations in improved airport infrastructure and new flight frequencies, as well as the arrival of Star Clipper cruise line to the port of San Juan del Sur.

Mario Salinas, president of the Nicaraguan Tourism Institute, assured that in 2010 the country received over 1 million tourists, a record figure.

New Tourism Investments in Nicaragua

October 2011

With an investment of about $20 million the Institute of Tourism has announced the construction of two marinas in the Caribbean and a hotel in Leon.

The investments are of Italian and Spanish origin, explained the head of the Nicaraguan Institute of Tourism (Intur), Mario Salinas.

Rejuvenation of Tourism Center in Granada

July 2011

5 projects will be developed with $1.5 million, in an attempt to recover the historical center of the Nicaraguan city of Granada.

Funding comes from the Spanish Cooperation, the European Union and the Inter-American Development Bank, and will go to 5 projects that include a street widening project, reconstruction of parks and the construction of a pier.

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