In November 2007, Ecuadorian President Rafael Correa decided not to renew its contract with the United States when the agreement for American use of the Manta airport base expires on 2009. Instead Correa offered the air base's concession to China during his state visit to the Asian country.
At the time President Correa expressed his concern, that Ecuador would need more Asian investments to help the country upgrade its infrastructure requirements and to expand its international trade. Sources confirmed the Hong Kong-based company Hutchinson Port Holdings, was given the Manta port concession.
However, in January 3, 2009, Hutchison (SEHK: 0013) Port Holdings, the world's largest port operator, could lose the project in Ecuador after the President Correa accused the Hutchison could not meet a timetable for its HK$4 billion investment at the Manta cargo port. Correa has threatened to expel Hutchison Port Holdings Ltd from Ecuador, due to delays in constructing a port in Manta.
Correa used soccer slang in referring to the delays during his weekly radio broadcast, saying he had "pulled out a yellow card." He said if the company doesn't meet its commitments, "it will have to leave the country and you know we are not joking."
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