APM Terminals has signed a concession contract for 32 years to build and operate a container terminal with an investment of $900 million.

The start of construction is scheduled for September. This first stage, at a cost of $300 million, should be completed in 2015.

“The company said, through a statement, that they have signed a concession for 32 years with the Port Authority of Lazaro Cardenas (APILAC) for the design, financing, construction, operation and maintenance of a new and specialized terminal”, reported Americaeconomia.com.

The construction company responsible for the works is Mexico’s ICA.

Source: America Economia