The construction of the "Bitcoin City Airport" in El Salvador has begun.
The government of Nayib Bukele began movements of heavy machinery to remove soil where the Pacífico Airport, AKA Bitcoin City Airport, will be located.
After receiving the necessary permits, the works of the Pacífico Airport in El Salvador, also known as the #bitcoin City Airport, began to be carried out.
There is heavy machinery removing soil where the air terminal is supposed to work. For the start of the project, the Autonomous Executive Port Commission (CEPA) allocated some USD 73 million, according to official statements published in local media.
In this sense, it is expected that this amount will allow the development of the "beta phase", which will be in progress for two years. The total cost of the airport is estimated at USD 350 million.
Work for the construction of the Pacific Airport began a few weeks ago, as reflected by the youtuber Albert Sánchez on his channel. Through aerial views, he showed how the project is carried out, announced by President Nayib Bukele at the end of 2021 after having granted legal tender to bitcoin ( #BTC ).
Several videos broadcast on social networks show several tractors and excavators belonging to the Ministry of Public Works working on the town of Flor de Mangle, in the department of La Unión, in eastern El Salvador, right where the airport will be built.
The construction of the Aeropuerto del Pacífico began shortly after El Salvador received the necessary environmental permits to erect the complex. The authorization was received by CEPA in February.
Likewise, construction work began after it was confirmed that the plans for Bitcoin City are still in place, despite the fact that they have not been made official by the government of El Salvador.
The construction of the Pacific Airport has brought criticism from the community. Some organizations have questioned the project due to the alleged environmental damage caused by these works. They also criticize that, up to now, CEPA "has not paid the negotiated price to the majority of the owners for the plots that the construction will absorb," according to members of the project called MalaYerba.
However, the Commission said a few days ago that at least 52 families living in the area designated for the construction of the Bitcoin City Airport were being relocated.
The Airport and Bitcoin City are part of the same project
The Pacific Airport and Bitcoin City in El Salvador are projects promoted by President Bukele. In fact, both initiatives were presented at the same time and the design was in charge of the Mexican architect Fernando Romero, who was awarded for his work with the bitcoin city.
The construction of Bitcoin City would also be financed by the so-called "Volcano bonds", with which the government hopes to raise USD 1,000 million.
The legal framework that will allow the issuance of said bonds was recently approved and the Bitfinex #cryptocurrency exchange will be in charge of that production and distribution. With the construction of Bitcoin City, the Bukele government wants to promote the adoption of bitcoin, highlight the country through this ecosystem, and attract foreign investment.
In fact, it would be an almost tax-free city and its electrical supply would be through geothermal energy. Bitcoin mining farms would be installed in the city that will work with pollutant-free energy. It was said that the city would begin construction in 2022.
