Asunción’s ‘Puerto Madero’ Starts Generating Revenue for ‘Coto’ Nogués

The “Gran Galpón,” one of four warehouses at the Port of Asunción awarded to an events company, is already hosting concerts and generating revenue even though the broader project remains unfinished.

Nuevo Mundo Entertainment SA, linked to events businessman Rodrigo Luis Nogués Bazán, known as “Coto” and currently president of Club Olimpia, received a 20-year usufruct over warehouses A, B, C and G from the National Navigation and Ports Administration, or ANNP. The company must invest more than $5 million to restore the warehouses and carry out the planned development.

Warehouse G, which the company calls the “Gran Galpón,” is the only one of the four that the ANNP says has been completed. It has already hosted concerts by Kany García and El Cuarteto de Nos, drawing thousands of people. The outdoor parking area planned for 469 vehicles, however, remains unfinished.

The events are organized through G5Pro, a production company linked to Nogués. The producer has a 10-year alliance with ueno bank, which has a strong presence at the events. After the warehouse award, the company announced that the bank had become the port project’s official sponsor.

That relationship has fueled questions and reports that ueno bank, owned by Grupo Vázquez, could be behind the public-space business. The group was previously associated with President Santiago Peña. The bank has not so far offered further public details or explanations about its connection to the project. ANNP President Julio César Vera Cáceres told ABC that the agency had begun receiving its share of the proceeds after the company’s grace period ended, although the available excerpt does not state the amount.