Mexican port investment reaches US$ 4.5 billion
09 September 2008
The Mexican government has invested US$ 4.5 billion in its port infrastructure this year, announced President Felipe Calderón during his second state of the union address.
According to local news reports, President Calderón said investments so far this year included nine cargo terminals and four "strategic" developments. These included the deep-water port of Lázaro Cárdenas and Puerto Vallarta, a resort city on the Pacific Ocean's Bahía de Banderas. Other investments included the Pacific ports of Veracruz and Manzanillo, which is the country's busiest port.
The government has also launched two intermodal corridors to boost transport services and develop new infrastructure.
The first corridor is on the Isthmus of Tehuantepec, which covers Oaxaca, Chiapas Tabasco and Veracruz states. The second will connect the ports of Lázaro Cárdenas and Veracruz.
Mexico's ports are assuming greater strategic importance as the US ports of Los Angeles and Long Beach become increasingly congested.