Port infrastructure in Mexico is going to double in capacity over the next six years, according to Ricardo Martínez of the Ports and Merchant Marine.

Growth: Mexican expansion will begin at the port of Veracruz

Growth: Mexican expansion will begin at the port of Veracruz

The expansion will begin at the port of Veracruz, which is investing $1.77bn, during which it will double its existing size by partially reclaiming land from the sea. A tender will be issued shortly.

Finance for the project will come from the concessionaires of terminals handling containers, finished vehicles and grain, as well as from service providers.

APM Terminals is investing $1.2bn in Lázaro Cárdenas, with up to $300m provided by the International Finance Corporation.

According to Mr Martínez, it makes sense to expand Mexican port facilities, because it is significantly cheaper to move cargo from Asia to the US via Mexico.