Maersk says enters $900 mln Mexico port project

APM Terminals, the ports arm of Danish oil and shipping group A.P. Moller-Maersk, said it would develop a container terminal in Mexico in a project with a total investment cost of over $900 million.

The company said in a statement it had signed a 32-year concession contract with the Port of Lazaro Cardenas (APILAC) for the design, financing, construction, operation, and maintenance of a new specialised container terminal.

APM Terminals will start construction by September this year, and the first phase would be completed in 2015, costing over $300 million, it said.

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