APM Terminals has signed a 32-year concession contract to design, finance, build, operate and maintain a container terminal at Mexico’s Port of Lazaro Cardenas.
The Netherlands-based terminal operator will start construction by September. The first phase of the project, with a pricetag of more than $300 million, is set for completion in 2015. The concession calls for a phased expansion. The entire project is projected to require an investment of more than $900 million.
Phase 1 will include a 106-acre container yard and a 2,150-foot quay with seven super post-Panamax cranes that will reach across 23 rows of containers. Additional facilities will include an administration building, warehouse, gates, on-dock rail facilities, and electrical yard cranes.
Once the final phase is completed, the terminal will cover 250 acres, with 4,900 feet of quay and water depth of more than 54 feet along the channel.
APM Terminals Lazaro Cardenas S.A. de C.V. successfully bid for the project last December. The company has signed a design-build contract with Mexico-based Empresas ICA, which also is also minority shareholder in the concessionaire company.