APM Terminals said Wednesday it has signed a 32-year concession contract with the Port Authority of the Port of Lazaro Cardenas (APILAC) for the design, financing, construction, operation, and maintenance of a new specialized container terminal at the port.
The announcement comes seven months after APMT, the global container terminal operator, won a tender
at the Mexican port.
The first $300 million phase of the terminal is scheduled for completion in 2015. It will include the construction of a 43-hectare container yard and 650-meter quay, with modernized gates and on-dock rail facilities to be added.
APMT will also add seven super-post-Panamax ship-to-shore gantry cranes (able to reach across 23 rows of containers), as well as electric rubber-tire gantry cranes. When the first phase is completed, the terminal will have 1,485 meters of quay and a water depth of 16.5 meters.
"This agreement shows our confidence in the future of the Mexican market,” said J.D. Nielsen, managing director of APM Terminals Lazaro Cardenas SA de CV. “Our investment and expertise will help transform the nation’s competitiveness through an efficient, integrated port and inland service network."
APMT said it has signed a design/build contract with Empresas ICA, a large contractor in Mexico. ICA is also a minority shareholder in the concessionaire company.
The entire project, which is being developed in phases, will require an investment of more than $900 million at full build-out, APMT said. - Eric Johnson