A new docking facility operated by APM Terminals has officially opened at Lazaro Cardenas, Michoacan, on Mexico's Pacific Coast.
The first phase of the US$ 900 million investment covers 120 acres and includes a quay of 750 meters connected to five rail tracks.
On completion between 2027 and 2030, the terminal will have a quay of 1.5 kilometers, an area of 250 acres, a capacity of 4.1 million TEUs, and 10 rail tracks providing intermodal access, said APM Terminals in a press release.
The facility started operations with the arrival of the 9,600 TEU-capacity Maersk Salalah on its AC2 Transpacific service from Asia.
"We have a significant portfolio across Latin America and this will be our second terminal in Mexico after Yucatan," commented APM Terminals CEO Morten Engelstoft. "We are pleased to be a contributor in helping Mexico to reach its growth ambitions."
The company said Lazaro Cardenas incorporates semi-automated processes for higher productivity and would help Mexico trade growth by offering a new gateway between the second-largest economy in Latin America and the rest of the world.
"Mexico is a core part of our strategy of investing in growth markets and building state-of-the-art facilities to run more efficiently the supply chain from the heart of Mexico to Asia and the rest of the Americas," explained Jose Rueda, managing director for APM Terminals in Mexico.
Currently, Mexico handles Latin America's third largest container volume after Brazil and Panama. According to World Bank statistics, in 2014 throughput was 5,273,945 TEU compared to 10,678,564 in Brazil and 7,942,291 in Panama. By comparison, Chile handled 3,742,520 TEU that year, Colombia 3,127,994, Ecuador 1,786,981, and Argentina 1,775,574 TEU.