El Salvador has started construction of an airport as part of its ambitious Bitcoin City project. Aerial footage uploaded by YouTuber Albert Sánchez about a month ago showed construction crews working on the site. The airport, known as Pacífico Airport or Bitcoin City Airport, is being developed along with the construction of Bitcoin City, according to reports from Criptonoticias and local media.
The Bitcoin City project involves building a settlement at the base of a volcano, using geothermal energy for both the city’s energy needs and Bitcoin mining operations. The government first unveiled the plan in late 2021, emphasizing that Bitcoin City would offer tax-free business opportunities in a country where Bitcoin has legal tender status.
When bitcoin prices tumbled last year, speculation arose, leading some to believe the project was on hold. Doubts lingered when the government failed to start construction in 2022, despite previous assurances that groundbreaking would occur for the city. Additionally, a government ministry appeared to have indicated earlier this year that it had no knowledge of the Bitcoin City project.
However, a government-affiliated entity recently confirmed that Bitcoin City construction plans remain in place. The airport project serves as proof that President Nayib Bukele’s Bitcoin ambitions remain intact. According to reports, “heavy machinery” is now being used to excavate the site.
The Autonomous Executive Port Commission (CEPA) has initially allocated a budget of US$73 million for the project, with the airport’s estimated total cost being US$350 million. Construction began after the project received the necessary environmental permits. Multiple videos on social media platforms show excavators from the Ministry of Public Works operating in the town of Flor de Mangle, in the department of La Unión in eastern El Salvador, in line with official plans for the airport.
Nonetheless, local community members have expressed dissatisfaction, claiming that the construction is having a negative impact on the area’s flora and fauna. Community leaders stress that at least 52 families need to be relocated in the area.
The government has dubbed the airport and Bitcoin City “sister projects” due to their simultaneous unveiling and co-design by Mexican architect Fernando Romero. The government plans to fund the projects through the long-awaited Bitcoin bond issuance, which has faced significant delays. A Bitfinex executive claimed last month that BTC bond issuance would occur in the summer.
However, US senators raised concerns about President Bukele’s Bitcoin adoption plans, prompting calls for a government risk report.
Picture Copyright: tonjong
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