Driving the spend is a need to boost capacity to accommodate burgeoning demand from the energy and mining sectors.
According to Julio Martínez Hernández, president of the Mexican Association of Port Infrastructure (AMIP), ports at Matamoros and Altamira are ramping up infrastructure to accommodate extra demand from the energy industry, while Veracruz, Coatzacoalcos and Dos Bocas are adjusting their installations at the behest of the petrochemical industry.
He notes that port traffic is increasing at an annual rate of 5% in terms of commercial cargo and 15% in container throughput, hence the need for investment.
Altamira is seeking $694m to enable it to become the first port in Latin America with a harbour deep enough to accommodate oil platforms, while Veracruz is to spend $1.78bn to build an entirely new harbour.