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Mexico's port projects will receive $783.1m

Mexico City: The Enrique Pena Nieto Administration will invest $783.1m in the maritime sector to improve and build new infrastructure in six Mexican ports.

Mexico’s economy grew by 3.6% in 2012, which, though slower than 2011’s 3.9%, is nevertheless healthy. Mexico’s current pace of economic growth is expected to continue, with the government forecasting GDP to increase annually by 3.9% for the next five years.

Energy being an important growth area, Mexico plans to invest $20bn in its oil industry up to 2025 through its state oil company Petroleos Mexicano (Pemex).

The Secretariat of Communications and Transportation (SCT) announced it was necessary to invest in strategic sectors, because some terminals are already suffering from congestions.

The port of Guayamas, on the northern Pacific coast of Mexico will be modernised at a cost of $567m while a new passenger terminal will be built in Puerto Vallarta, Jalisco, with an investment of $54.8m to respond to cruise lines demand of having a home port on the Jalisco coast. The ports of Ciudad del Carmen and Seybaplaya, in Campeche, on
Mexico’s Atlantic coast will be modernised at a cost of $13m and $28.5m respectively.

In the pipeline is the development and operation of the port of Matamoros, which will require a capital injection of $100m to address exploitation and exploration of oil and mineral reserves.

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