Lloyds List: Spending on ports keeps rising
“Royal Dutch Shell, along with its partners, TotalFinaElf and Mitsui, is developing a $370m LNG import facility in Altamira.”
Wednesday Sept 28, 2005
Foreign cash in Lazaro Cardenas, Progreso and Altamira terminals
Private and public investment in Mexico’s port system is set to reach Ps$7.4bn (US$657m) this year, taking the total investment in port infrastructure to Ps$27bn in the last five years.
Foreign investors such as Hutchison Port Holdings, Terminal de Contenedores de Barcelona and Shell are driving this year’s favourable figures.
HPH is developing a container terminal in Lazaro Cardenas, TCB is developing the container terminal in Progreso and Shell is constructing a LNG import terminal in Altamira. In Lazaro Cardenas, HPH subsidiary, Lazaro Cardenas Terminal Portuaria de Contenedores (LCTRC), has started the construction of a 1.8m teu container facility to capitalise on growth in volumes for both Mexico and the US, investing upwards of US$500m.