Contecon Manzanillo SA de CV is investing US$230 million to expand facilities at the Second Specialized Container Terminal in Mexico’s Manzanillo port
Terminal capacity will be expanded by 300,000 twenty-foot equivalent units
Annual operating capacity to rise from 1.4 million TEUs to 1.7 million TEUs
The additional capital will be used to build berths and yards and acquire quay cranes, rubber-tired gantries, port tractors and other equipment
Expansion will begin during the second half of 2022
International Container Terminal Services, Inc. (ICTSI) is investing US$230 million to expand its terminal at the Port of Manzanillo in Colima, Mexico.
The investment is being made through Contecon Manzanillo SA de CV (CMSA), ICTSI’s business unit operating the Second Specialized Container Terminal (TEC-II) at the Manzanillo port.
The aim is to expand TEC-II’s facilities and further improve its infrastructure to serve the growing maritime traffic at the port.
The project will expand terminal capacity by 300,000 twenty-foot equivalent units (TEU), reaffirming ICTSI’s confidence in the growth potential of the Manzanillo port, the port operator said in a statement.
“The investment is intended to expand the operating capacity of the terminal from 1.4 million TEUs to 1.7 million TEUs annually,” CMSA chief executive officer José Antonio Contreras said.
ICTSI chairman and president Enrique K. Razon, Jr. said the injection of private capital into Manzanillo is an essential part of the ICTSI Group’s strategy that will benefit the supply chain in the region.
The additional capital will be used to construct berths and yards as well as acquire quay cranes, rubber-tired gantries, port tractors and other equipment. All these will complement the public project to expand and adapt the land access to the terminal, which the federal government announced for Manzanillo in November.
The facilities expansion will start during the second half of 2022.
ICTSI in June 2010 signed a 34-year concession to develop and operate TEC-II. CMSA is Mexico’s gateway to the Pacific coast and is close to major consumer markets, such as Mexico City and the country’s largest industrial areas.