ICTSI unit starts port expansion in Mexico
International Container terminal Services inc. (ictsi) said on thursday its Mexican subsidiary has started its third phase expansion, an initiative that will increase the Port of Manzanillo’s capacity to over 2 million twenty-foot equivalent units (teus) from 1.4 million teus.
the third expansion phase will enable the Port of Manzanillo to expand its operational capacity and cater to Mexico’s current and future foreign trade requirements, according to Contecon Manzanillo (CMSA) Ceo José antonio Contreras.
“Manzanillo is the most important node of international logistics in the Pacific Coast of Mexico and it will continue to be so. We are convinced that this expansion, as well as the construction of land access to the northern zone of the terminal and the acquisition of new inspection equipment for Customs, will consolidate and strengthen the port’s position among competitors,” said Contreras.
He called the project an “ambitious investment plan” that will run until 2025 with a project cost of $230 million.
“this port is designed to meet present and future needs, as well as handle 400-meter ships. if the port wins, we all win – from our clients to the families of our employees,” he added.
the investment will help position Contecon as the largest terminal in Mexico’s Pacific coast.
For her part, Colima Governor indira Vizcaíno Silva said: “this expansion will serve the growing demand that persists in the Port of Manzanillo, which will undoubtedly reflect better employment opportunities and living conditions not only for the people of Manzanillo, but also for the people of Colima. the Government of Colima is ready and willing to help the development and economic activity of businesses that yearn, like us, for the wellbeing of population.”
CMSA’S expansion will create more than 600 new direct jobs, in addition to the existing 1,200, along with 11,600 indirect jobs, making the company one of the most committed employers in Colima.
this boost in growth and the goal of consolidating the Port of Manzanillo’s position as the most important and competitive in the country prompted CMSA to start the third phase of the new port expansion project and serve the country’s foreign trade needs in the coming years.
So far, ictsi has invested around $122 million in port equipment since starting operations, contributing more than $238 million in port considerations to Mexico’s port infrastructure and generating employment for more than 1,200 people.