APM Terminals (APMT) is continuing with its new deep-water semi-automated Lázaro Cárdenas Terminal 2 (TEC2) project, which represents an overall investment of US$900 million, despite the slow Latin American economic growth, and sluggish global container shipping growth rate.
Once complete, TEC2 will have an annual throughput capacity of 1.2 million TEUs.
Overall throughput at the Port of Lázaro Cárdenas increased 6 percent in 2015 to 1.05 million TEUs, following Manzanillo on Mexico’s east coast with 2.4 million TEUs handled in 2015, according to APM Terminals.
APM Terminals said the fully built TEC2 will double the quayside to 1,485 meters, increase the number of STS cranes from seven to 15, and more than double annual throughput capacity to 4.1 million TEUs. TEC2 will be linked by intermodal rail to the U.S. rail network and to the Mexico City area.
Kim Fejfer, CEO at APMT, said: “Mexico is not only the second-largest economy in Latin America, but also one of the world’s top 15 manufacturing economies, including having become one of the world’s top five car makers, and we feel that investing in Mexico’s continuing economic and trade progress is a sound business strategy.”
TEC2 will be linked by intermodal rail to the US rail network and to Mexico’s most important consumer market, in the Mexico City area, generating 26% of Mexico’s economic output, with a population of 20 million, including a substantial and rising middle class of consumers.