Veracruz seeks to quadruple capacity through US$1.8bn expansion

containerThe Mexican port of Veracruz has plans to boost its capacity by more than 400% with a US$1.8bn expansion programme.

Reportedly the first of two planned container terminals will be put to tender in the first quarter of 2014, part of a four-year expansion plan due for completion in 2018. It is thought that the government will pump US$1.2bn into the project, with the remaining US$600m funded by the private sector.

First on the agenda is the construction of a new breakwater and dock to support the pair of new terminals. The second phase will add more terminals and could last until 2030. Port officials claim that capacity will increase by 413%, from 23m tonnes to 118m tonnes.