Port of Manta – TIDE walks away

As reported in last month’s issue of CM, relations between HPH’s subsidiary TIDE and the Ecuadorean government turned sour after President of Eduador, Rafael Correa, publically criticised HPH and had warned that the concession could be withdrawn on the grounds that the project construction had been delayed because of ‘continuing mishandling’ by TIDE.

It is reported that the President had said, “With this Government one doesn’t play around; forget about the Banana Republic where it was tradition to do whatever one wants. If they [HPH] do not adhere to the concession of the Port of Manta, they will simply have to leave the country and you know that we are serious”.

Prior to the presidential announcement, HPH had said that it had not heard anything about termination of or changes to its concession contract, stressing that it had fully complied with the concession agreement and that it had been working closely with local authorities to develop modern container handling facilities in the port.