Sheinbaum Oversees Expansion of the Port of Veracruz

President Claudia Sheinbaum visited Veracruz to oversee the expansion of the Port of Veracruz. The visit included a tour of the port facilities, where industry leaders and operators of the North Bay presented ongoing terminal operations and highlighted public and private investments that are driving the port’s modernization. Sheimabum was also accompanied by Veracruz Governor Rocío Nahle and Minister of the Navy Raymundo Morales.

The expansion of the Port of Veracruz, led by Grupo CICE, represents an investment of MX$7 billion (US$410 million). Scheduled to begin operations in April 2025, the terminal will increase the port’s capacity and serve as a critical hub for maritime trade. It is expected to generate 500 permanent direct jobs and over 1,200 indirect jobs, strengthening the region’s economy, as previously reported by MBN.

Awarded through a public bidding process, the 22ha terminal will feature state-of-the-art infrastructure, including 550m of dock space with a 14m draft, two berthing positions, a multimodal yard with 1,970m of rail spur, and a wastewater treatment plant. Grupo CICE secured a MX$4.15 billion (US$202.5 million) syndicated loan from BanBajío, Banorte, Multiva, Bancomext, Bx+, and Monex, with support from the Trusts Established in Relation to Agriculture (FIRA), to finance the construction and equipment for this new terminal, as MBN reported.

During the visit, held on Feb. 14, Nahle proposed the construction of a coastal railway linking Veracruz, Tuxpan, and Altamira, eventually extending to Monterrey. However, Sheinbaum noted that federal resources will prioritize other railway projects, including the Nuevo Laredo and Nogales railway corridors, the freight segment of the Mayan Train, the completion of the Interoceanic Corridor (CIIT), and improvements to the Mexico-Veracruz and Puebla-Veracruz railways to enhance passenger connectivity. 

“We are exploring the possibility of using a railway, but if that is not feasible, we aim to enhance road connectivity. The goal is to improve transportation from Yucatan to Nuevo Laredo, addressing connectivity challenges, particularly in Veracruz, which still faces some north-south transit issues. Thus, we are also considering road infrastructure improvements as an alternative,” states Sheinbaum.

Infrastructure investments also include a mixed investment plan to improve connectivity from Villahermosa, Tabasco, to the northern border along the Gulf of Mexico. Some sections of the route have poor road conditions, heavy traffic, and ongoing issues on federal highways. 

Sheinbaum’s visit also resulted in the approval of major infrastructure projects to enhance Veracruz’s transportation network. Among these are the construction of the new Coatzacoalcos I Bridge, the Boca del Rio Bridge, the modernization of the Orizaba-Cordoba bypass, and the rehabilitation of key highways to improve regional mobility.