Punta Colonet delay

Authorities have decided to postpone contract bidding for the construction of the terminal slated for a remote section of the Baja California peninsula about 150 miles south of San Diego, California, according to Luis Tellez, head of Mexico’s Secretariat of Communications and Transportation.

“There is clearly competition for extensive resources,” Mr Tellez said, “and given the magnitude of Colonet we are seeing if there is the capacity to finance it.”

As a 6m teu per year facility which was to be built from scratch, Punta Colonet had a $1.5bn price tag before the credit crunch. The plan was to better supply the US market by easing congestion on West Coast ports.