Contecon Manzanillo earmarks USD230 million for expansion in 2022
Contecon Manzanillo (Contecon), International Container Terminal Services, Inc.’s (ICTSI) business unit operating the Second Specialized Container Terminal at the Port of Manzanillo in Colima, Mexico, is investing USD230 million to expand the terminal’s facilities and further improve its infrastructure to be able to serve the growing maritime traffic at the port, according to ICTSI's release.
The project, which will expand the terminal’s capacity by 300,000 TEUs, reaffirms ICTSI’s confidence in Mexico and the growth potential of the Manzanillo port.
“The investment is intended to expand the operating capacity of the terminal from 1.4 million TEUs to 1.7 million TEUs annually,” highlighted José Antonio Contreras, CMSA chief executive officer. Mr. Contreras took the reins of CMSA in September, with a strategic vision of sustainable solutions for Manzanillo.
Enrique K. Razon Jr., ICTSI Chairman and President, pointed out that 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 for the construction of berths and yards, as well as for the acquisition of quay cranes, rubber tired gantries, port tractors and other equipment. All these will complement the public project for the expansion and the adaptation of land access to the terminal, which the Federal Government announced for Manzanillo in November.
In line with the objective of maintaining its position as the benchmark in the port industry for efficiency, profitability, human capital and innovation, Contecon and the ICTSI Group will start the facilities expansion during the second half of 2022.
ABOUT CONTECON MANZANILLO S.A. DE C.V. (CMSA)
In June 2010, ICTSI signed a 34-year concession for the development and operation of the Second Specialized Container Terminal (TEC-II) at the Port of Manzanillo in Mexico. ICTSI established a subsidiary, Contecon Manzanillo SA de CV to operate the Port of Manzanillo. Ideally located to serve the growing Asian trade, 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.
ABOUT INTERNATIONAL CONTAINER TERMINAL SERVICES, INC. (ICTSI)
Headquartered and established in 1988 in Manila, Philippines, International Container Terminal Services, Inc. (ICTSI) is in the business of port development, management and operations. ICTSI’s portfolio of terminals and projects are located in developed and emerging market economies in the Asia Pacific, the Americas, and Europe, the Middle East and Africa. Independent with no shipping or consignee-related interests, ICTSI works and transacts transparently with all stakeholders of the supply chain. ICTSI continues to receive global acclaim for its public-private partnerships, which are focused on sustainable development, and supported by corporate social responsibility initiatives.
