APM Terminals to invest US$900M in Mexican port
APM Terminals has won a US$900 million contract to build a new deep water terminal at the Mexican port of Lázaro Cárdenas, creating 900 construction jobs.
The subsidiary of Danish company A.P. Moller Maersk, won the 32-year concession to design, finance, build and operate the new container terminal at the port.
APM Terminals CEO Kim Fejfer, said the award marked a new era for Mexican ports and would contribute greatly to the country's economy.
"This new port will increase the country's international trade competitiveness, attract more foreign investment and reduce logistics costs through higher operational efficiency," he said.
The company has partnered with Mexico’s largest construction company ICA, who will have a 5% share in the project and will source materials from the Mexican market.
Phase I involves a US$300 million investment building a 43-hectare container yard, 650-meter quay with two births and accompanying warehouses, gates and modern on-dock rail facilities serving Mexico City and cities to the north up to Monterrey.
The area will be equipped with new ship-to-shore gantry cranes, a fleet of trucks and should be operational by the first quarter of 2015.
Once the final phase is completed, the terminal will cover 102 hectares with 1,485 meters of quay with four berths and will generate 550 operational jobs.
In Mexico, APM Terminals operates inland services in Ensenada, Lázaro Cárdenas and Manzanillo focussing on inland transporation and storage depots.
Photo: APM Terminals