Mexican port plans $569m investment in 2010

Mexican port authority API Manzanillo is planning to invest US$569 million in port infrastructure and equipment during 2010, reported Business News America.

Works include the construction of a second, container terminal, which is expected to handle two million TEUs per year.

Philippine firm International Container Terminal Services (ICTSI), which has a 34-year concession to build and operate the terminal, will begin construction during the first quarter, an official from API Manzanillo told BNamericas.

The new terminal will double the port's existing cargo capacity, port authority head Jos?? Juli??n Dip Leos was quoted as saying by paper Milenio.

Complementary works include expansion and construction of a new intersection along the port's access highway, and dredging in the Valle de las Garzas lake.