Global Ports Holding (GPH) unveiled details of the multi-million-dollar infrastructure upgrade plan, in collaboration with the Puerto Rico Ports Authority, according to a press release.
As per the 30-year concession agreement, GPH has paid the Puerto Rico Ports Authority an upfront concession fee of $75 million. During the first phase, GPH will invest approximately $100 million, mostly in critical infrastructure repairs at Pier 4 and Pan American Piers I and II. Additionally, there will be upgrades to the terminal buildings and the passenger walkway.
Global Ports Holding Chairman and CEO, Mehmet Kutman, said: “We are delighted to welcome San Juan Cruise Port into the world’s largest cruise port network. In addition to being a fantastic destination, San Juan is a strategically important port that is perfectly positioned to play a pivotal role in Eastern and Southern Caribbean itineraries as a homeport for decades to come.
“We are excited to have started operations, as San Juan continues to welcome record numbers of cruisers and look forward to delivering on our plans to bring the iconic San Juan Cruise Port to its rightful leadership position in the Caribbean cruise industry for the benefit of all Puerto Ricans.
“We remain dedicated to expanding our presence and impact in the region and to exploring new opportunities for growth and collaboration in the Caribbean.”
GPH also plans to modernize and improve port operations management, technology, security and sustainability efforts. The port will also be integrated into Old San Juan and Puerto Rico’s tourism sector.
In the second phase, GPH will invest nearly $250 million in expanding the port’s capacity by building a new cruise pier and homeport terminal at Piers 11 and 12 to accommodate the world’s largest cruise ships.
San Juan Cruise Port President, Jan Fomferra, said: “Our investment in this port will see hundreds of millions of dollars poured into the development and expansion of San Juan Cruise Port which will transform the port infrastructure, significantly improve the cruise port experience for passengers, and create greater opportunities for local businesses to benefit from the anticipated growth in passenger volumes.
“We look forward to delivering a world-class cruise port that will benefit Puerto Rico and the entire region, boosting the economies of the entire Caribbean cruise industry for many years to come.”
