Manila Standard

ICTSI’s Mexican unit allocates $230m to expand capacity over next three years

- By Darwin G. Amojelar

INTERNATIO­NAL Container Terminal Services Inc. said Thursday its subsidiary in Mexico is investing $230 million over three years to expand its capacity.

The port operator led by businessma­n Enrique Razon said Contecon Manzanillo’s investment plan for 2022 to 2025 would cost more than $230 million, which would mainly be utilized to upgrade shipping and terminal infrastruc­ture, storage yards and equipment.

The capacity increase to two million TEUs or twenty-foot equivalent units will position Contecon as the largest terminal in Mexico’s Pacific coast, it said.

The third expansion phase will enable the Port of Manzanillo—a key port in the Pacific Coast of Mexico—to expand its operationa­l capacity and cater to the country’s current and future foreign trade requiremen­ts.

“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,” CMSA chief executive José Antonio Contreras said.

“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 said.

Colima Governor Indira Vizcaíno Silva said the expansion would serve the growing demand that persists in the Port of Manzanillo, which would 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 well-being of population,” she said.

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.

The expansion 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.

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