Port infrastructure in Mexico is going to double in capacity over the next six years, according to Ricardo Martínez of the Ports and Merchant Marine.
Port Strategy reported this week that a tender is due to be issued shortly for the port of Veracruz, where a US$1.77bn investment project will see the port double in size by partially reclaiming land from the sea. Finance for the project will come from the concessionaires of terminals handling containers, finished vehicles and grain, as well as from service providers.
Meanwhile, APM Terminals is investing US$1.2bn in Lázaro Cárdenas, with up to US$300m provided by the International Finance Corporation.
According to Mr Martínez, it makes sense to expand Mexican port facilities, because it is significantly cheaper to move cargo from Asia to the US via Mexico.
