El Salvador approves 290 BTC for the Bitcoin City airport

The deputies of the Legislative Assembly of El Salvador approved a reform to finance with more than USD 19 million the continuation of the construction of the Pacific International Airport, also known as the Bitcoin City Airport, the ambitious project of the Nayib Bukele government that will have place in the department of La Unión.

As reported by the legislative body itself, a reform to the 2024 Budget Law was approved regarding the Executive Airport Commission of El Salvador (CEPA). The objective is to allocate USD 19.4 million for consulting services, complementary studies, preliminary works and payment of personnel in the airport project.

Remembering that in El Salvador bitcoin (BTC) has the characterization of legal tender, the financing that the Bitcoin City Airport received It is approximately 290 BTC. This is taking into account that at the time of publishing this report, 1 bitcoin is trading for USD 69,000, on average.

The passenger terminal, which began construction in June 2023, will serve the residents and visitors of the department of La Unión, very close to the location where it is planned. Bitcoin Citythe latest generation, tax-free and 100% bitcoiner city.

The reform in the Budget Law is for the Ministry of Finance of El Salvador to assign monetary resources to the CEPA, which, according to the Legislative Assembly, They come from the securitization received in 2023 and “are part of the cash and bank availability at the accounting close of the financial fiscal year.”

The Pacific Airport in El Salvador, also known as Bitcoin City Airport, is one of the most ambitious infrastructure projects of the Bukele government. With it, it is planned provide an airport connection to the eastern part of the country Central American, with the objective of promoting economic development and tourism.

In 2022 it was revealed that the design of the airport was carried out by Fernando Romero, a renowned Mexican architect who won various international awards for his design of the New Mexico City International Airport, a macro project canceled by the outgoing president Andrés Manuel López Obrador.

There is no certainty if Romero’s design will ultimately be chosen to build the Bitcoin City Airport, or if there is another structure already planned. If it were that of the award-winning Mexican architect, it would look more or less like this:

According to government estimates, the project will have an estimated cost of USD 335 million and is estimated to be able to serve between 350,000 and 500,000 Salvadoran and foreign travelers annually. Now, the amount could be raised “depending on the increase in demand,” the Legislative Assembly clarifies.

With this money, the construction of a landing strip is planned to serve flights from the entire Latin American continent, as well as taxiways and turning platforms on the runways. Platforms for aircraft parking and obstacle limiting surfaces will also be built.

In turn, dirt and drainage works will be carried out and an area for fuel and air traffic control facilities will be built. Additionally, the airport’s aeronautical lighting and a building for rescue and firefighting services will be provided.

“Likewise, the passenger terminal, customs, the luggage waiting area, restrooms, parking, electrical installations, warehouses, administrative offices and others will be built,” as indicated by the Legislative Assembly of El Salvador. .

According to what the Bukele government foresees, with the Airport that would provide service to Bitcoin City 20,000 jobs will be created during the execution of the project. This, improving the economy in the eastern zone of El Salvador, maintains the parliament.

William Soriano, deputy of the ruling New Ideas party, assured that with the airport A “before and after” will be marked in La Unión, characterized by having volcanoes, islands and beaches, which are clear tourist attractions for Salvadorans and foreigners.

“Bukele is very clear: he wants to provide the department of La Unión with the necessary productive assets to be able to turn it into a pillar of the new economy that we are building in El Salvador,” Soriano said.