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Maersk Investing $900 Million in Mexican Terminal

Article Summary:

Danish group AP Moller-Maersk will invest U.S. $ 900 million to install a new container terminal in the Mexican port of Lazaro Cardenas. The first of four phases will involve an outlay of 300 million dollars, will be completed in 2015 and begin operations during the first quarter of this year.

Photo Credit: America Economia

Original Article Text From America Economia via Google Translate :

Maersk Will Invest U.S. $ 900M in New Terminal in Mexico

Copenhagen. One unit of the Danish group AP Moller-Maersk will invest U.S. $ 900 million to install a new container terminal in the Mexican port of Lazaro Cardenas system to supply a growing demand.

The Port Authority of Lazaro Cardenas chose the proposal of the Maersk subsidiary APM Terminals after an auction to build deep-water terminal was granted a concession for 32 years, APM said in a statement.

The first phase of a total of four, will involve an outlay of 300 million dollars, will be completed in 2015 and begin operations during the first quarter of this year, told Reuters APM Terminals CEO, Kim Fejfer.

“This is definitely a big investment and a new property, so we have to build everything from scratch, with the exception of the infrastructure that we provide port authorities,” he said.

Phase one includes construction of a container of 43 hectares, a quay of 650 meters with two berths, an office building, a warehouse and rail freight facilities.

Once this first stage is completed, the terminal will have a total area of ​​102 hectares with 1485 meters of quay, four berths and a depth in the channel and around 16.5 meters, the company said.

It will create about 900 jobs during construction and 500 during the first phase of operation, not counting the indirect jobs in the area, he said.

The executive said the ability of the port area on the West Coast will be filled by 2013, making it necessary to this project.

Regional Estretagia. APM Terminals partnered with the Mexican construction company ICA, which will have a 5% stake, said the Danish company.

The firm, one of the leading cargo carriers in the world, has 60 ports and 132 complex on land in 63 countries.
In Mexico, APM Terminals operates ground services in Ensenada, Lazaro Cardenas and Manzanillo, which focus on land transport and transport tanks.

“We have a pretty aggressive strategy to grow our business in Latin America,” said Fejfer. “We have operations in Peru, Argentina and Brazil and are working on a port on the Atlantic coast of Costa Rica,” added the CEO.
He explained that investment in Mexico, the firm will use some external funding, but most of which are funds from the same group Maersk.

Link to Original Article:

From America Economia

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