The Ministry of Communications and Transport (SCT) of Mexico has confirmed that by the end of 2018, the first phase of the new Port of Veracruz will begin operating on a commercial basis.
This phase will have a cargo handling capacity of about 66 million tonnes. By 2024, the terminal is expected to have a capacity of around 90 million tonnes.
The total construction of the project involves an investment of about US$1.4 billion, with 80% of the total funding coming from private companies. The scheme is undertaken as a public private partnership.
According to the SCT, this project will ultimately double Mexico’s operational capacity, raising it from 260 million tonnes to more than 520 million tonnes.
This story was first published in Spanish in International Construction’s sister magazine, Construcción Latinoamericana