FOMILENIO II signs third ESIC investment agreement for $ 10.8 million

“Alianza El Zonte” became the third El Salvador Investment Challenge (ESIC, or API in Spanish), by signing an investment agreement with FOMILENIO II and the municipality of Chiltiupán for $10.8 million. This project will improve the quality of life of more than 2,000 people in the municipality, will help control pollution of the El Zonte River, maintain the attractiveness of the area of beach, and encourage the increase of tourism to the area.

Hotel companies Roberto Océano Inversiones, S.A. de C.V., Surfing Pacífica, S.A. of C.V., and Grupo Menéndez Zometa, S.A. of C.V. created “Alianza El Zonte.”

With this new ESIC, “Alianza El Zonte” is committed to invest $7.4 million in the construction of three hotels. They requested the support of FOMILENIO II for the construction of a wastewater treatment plant, with an estimated total cost of $3.4 million.

The start of construction of the plant will begin in August 2018 and is expected to be finished in 12 months. The mayor’s office will run the plant, jointly with FOMILENIO II.

Through the construction of this sanitation system, FOMILENIO II and its partners will contribute to an integrated development of tourism and environmental conservation, and it will generate at least 100 direct jobs via private investment and 30 more in the construction of the plant.

The ceremony was headed by: the director of FOMILENIO II, William Pleites; the mayor of Chiltiupán, Jorge Luis Díaz Morales; and business representatives from “Alianza El Zonte.”  Country Resident Director of the Millennium Challenge Corporation (MCC), Martha Keays, was witness to the ceremony.

This is the third ESIC project signed. The first was with the company Aeroman for $34.6 million: $32.2 million allocated by the company for the construction of a hangar and ESIC support for $2.4 million for the training of more than 900 young people, including technicians and engineers, in the area of ​​aeronautics. The other is with the Association of Agricultural Producers of Nueva Concepción (APANC de RL) for $207,100: some $135,600 of APANC investment for the creation of a fluid milk pasteurization plant and ESIC support for technical assistance and training to improve production processes for up to $71,500.