The Salvadoran government announced on Sunday that Turkish holding company Yilport will invest $1.62 billion in two of the country’s seaports, marking the largest private investment in El Salvador’s history.

One of the ports, La Unión, has been idle and neglected but is the planned site for Bitcoin City. The project will create ‘thousands of direct and indirect jobs’ and lead to further investments in local infrastructure in this seaport.