Wednesday, August 1, 2012
APM Terminals inks $900 mil Mexico port deal
The terminal operations arm of Denmark's A.P. Moeller Maersk announced it has signed a 32-year concession contract to design, finance, build, and operate a container terminal at the Port of Lazaro Cardenas, located in the southern part of the state of Michoacán, Mexico on the Pacific Ocean.
APM Terminals said in a statement it would begin construction in September on the first $300 million phase of the box terminal that at full build out, will reach a cost of $900 million and encompass over 250 acres.
The first phase is scheduled for completion in 2015 and will feature on-dock intermodal rail, 7 super post-Panamax ship-to-shore cranes, and electrically powered rubber tired gantry cranes, the terminal operator said.
"This agreement shows our confidence in the future of the Mexican market. Our investment and expertise will help transform the nation's competitiveness through an efficient, integrated port and inland service network," said JD Nielsen, managing director, APM Terminals Lazaro Cardenas SA de CV.
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