WILLEMSTAD – Curaçao will need tens of millions of euros in additional investment to complete the next phase of modernizing and expanding its harbor infrastructure, with the government and port operator looking to both the Netherlands and private investors for financial support.
The funding needs were discussed during a harbor tour attended by Dutch State Secretary for Kingdom Relations Eric van der Burg, Minister of Finance and Traffic, Transport and Urban Planning Charles Cooper, and representatives of CDM Holding.
The Netherlands previously provided €20 million through the Country Package (Landspakket) to support the first phase of the harbor renovation. According to Cooper, those funds were transferred directly to the dock company and used to carry out the initial rehabilitation works.
During the visit, CDM Holding showcased the improvements completed under the first phase and outlined plans for a second phase of renovations, for which full financing has not yet been secured.
Van der Burg said he observed several areas requiring further investment, noting that the combined value of the proposed projects amounts to tens of millions of euros.
The Dutch state secretary did not make any new financial commitments during the visit. Instead, he stressed that it is up to the Curaçao government to determine which projects should take priority and how they will be financed.
According to Van der Burg, part of the required investment should come from the private sector, while Curaçao could also explore opportunities to obtain financing through European funds. He added that the Netherlands remains willing to discuss funding options with the island.
Cooper said governments should primarily finance what is known as the "unprofitable top"—the portion of projects that is socially or economically desirable but cannot be recovered through commercial returns. Projects capable of generating sufficient revenue, he argued, should be financed by private companies or through commercial bank loans, with Curaçao maintaining overall control of the development strategy.
The first phase of the harbor modernization included repairs to several docking facilities, which Cooper said are essential for attracting new maritime business, including ship repair and maintenance services.
The government is also continuing discussions with Global Oil on a long-delayed asphalt production project, while plans remain under development to expand industrial activity in the Buskabaai area once the existing asphalt lake is removed.
In addition, Curaçao hopes to capitalize on the emerging offshore oil industries in Suriname and Guyana by offering oil storage facilities at Bullenbaai, ship repair services and other maritime support activities. No agreements with companies operating in either country have been announced.
Van der Burg said expanding the harbor offers Curaçao an opportunity to diversify its economy beyond tourism, creating new sources of revenue and employment. However, neither the government nor CDM Holding has yet estimated how many jobs the planned investments could ultimately generate.