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 Business News | November 2007 
Hutchison Port Opens $244 Million Mexican Harbor Development
 Wendy Leung - Bloomberg
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Hutchison Port Holdings Ltd., the world's biggest container terminal operator, opened a $244 million expansion at Mexico's Port of Lazaro Cardenas, as it seeks to handle a greater share of the country's sea-cargo.
The development work includes the construction of a 600 meter quay, 48 hectares of yard area and a container freight station, the Hutchison Whampoa Ltd. unit said in an e-mailed statement today.
Hutchison Port first invested in Port of Lazaro Cardenas, on Mexico's Pacific coast, in 2003 because of the country's growing international trade. Mexico's imports and exports both climbed about 13 percent from a year earlier in October. About 90 percent of world trade moves by sea.
Other work in the project includes the modernization of intermodal transport links to ease rail shipments across Mexico and to the U.S., Hutchison Port said. Port of Lazaro Cardenas is capable of handling 10,000-plus twenty-foot equivalent units ships, spokesman Anthony Tam said by phone today.
Only 350 meters of the quay have been completed so far, with the rest due to be finished by April, the port operator said. Once all phases of the expansion work are finished, the terminal will have four berths and a 1,425 meter quay, it added.
To contact the reporter on this story: Wendy Leung in Hong Kong wleung12@bloomberg.net |
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