NORTH AMERICA

Punta Colonet still needed

17 years ago

Mexico should launch the tender for the Peso50bn ($3.75bn) Punta Colonet port project, in Baja California state, to prepare the country for future growth opportunities as and when the global economic crisis ends, local financial group IXE analyst Carlos Gonzá lez has said.

Mr Gonzalez’s comments offer a sharp break with the current consensus that the economic crisis negates the need for the mega-project.

They are also being seen as a riposte to Alonso García, director of Banobras, the national development bank who said the project is no longer viable because the crisis has caused the market conditions it was designed for to disappear.