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Manila Bulletin devider Business devider Trade & Industry devider ICTSI Mexico starts Phase 3 port expansion

ICTSI Mexico starts Phase 3 port expansion

Published Dec 15, 2022 01:18 pm

Contecon Manzanillo (CMSA), International Container Terminal Services, Inc.’s (ICTSI) subsidiary in Mexico, just started its third phase expansion to boost its capacity from 1.4 million to over two million Twenty foot Equivalent Units (TEUs) within the next five years, making it the largest terminal in the country's Pacific coast.

The expansion, part of a $230 million investment plan, strengthens the key port’s position among competitors, enabling it to cater to the country’s current and future foreign trade requirements, stressed CMSA Chief Executive Officer José Antonio Contreras.

“Manzanillo is the most important node of international logistics in the Pacific Coast of Mexico and it will continue to be so," he maintained.

“This port is designed to meet present and future needs, as well as handle 400-meter ships. If the port wins, we all win – from our clients to the families of our employees.”

CMSA’s expansion will create more than 600 new direct jobs, in addition to the existing 1,200, along with 11,600 indirect jobs, making the company one of the biggest employers in the state of Colima, where it operates.

Already, the company has invested some $122 million in port equipment since starting operations.

So far, it has contributed more than $238 million to Mexico’s port infrastructure.

Contecon Manzanillo starts Phase 3 port expansion project

In June 2010, ICTSI signed a 34-year concession for the development and operation of the Second Specialized Container Terminal (TEC-II) at the Port of Manzanillo in Mexico.

ICTSI established a subsidiary, Contecon Manzanillo SA de CV to operate the Port of Manzanillo.

Related Tags

ICTSI CONTECON MANZANILLO CONTECON 3RD PHASE EXPANSION ICTSI MEXICO
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