The Guatemala Prosecution Attorney took control of the container terminal of Quetzal Port in order to audit the company in charge of the concession.

According to sources, there could be evidences of an illegal money laundering framework operating at the terminal.

In April 2013, we reported that the Spanish firm, Grup TCB, had been selected to operate the new TCQ terminal at Puerto Quetzal, located on the Pacific coast of Guatemala. The total investment reached US$250 million in new infrastructure. Grup TCB had been granted an extendable 25-year concession to operate TCQ.

In March 2014, we informed that TCB was seeking support of the International Finance Corporation (IFC) and IFC was considering an up to US$45 million loan.

The development of the new Puerto Quetzal Container Terminal involves to phases. Phase one consists of the construction of 300 metres of pier with a depth of 12.5 metres and yard area of 13 hectares. The second phase will involve the yard extension of up to 21 hectares and 540 metres of pier with a depth of 14 metres. The infrastructure will include four STS gantry cranes, a mobile harbour crane and twelve RTGs.