Tuxpan Port Lands Private Investment WindfallBy Pedro Alcalá | Fri, 05/08/2020 - 16:42
In a press release published last Monday, SCT and API Tuxpan announced seven projects that will expand Tuxpan port’s capacity to operate and manage commodities from the energy industries. These projects will represent over US$936.64 million in investments from private sources and over 11,000 new jobs. It would also increase the port’s oil storage capacity almost four to five-fold between 2.1MMb and 2.7MMb to 10.1MMb. This investment campaign has been coordinated through the SCT’s General Coordination of Ports & Merchant Marine (to read our interview with Fernando Bustamante, General Director of Ports at the General Coordination of Ports & Merchant Marine, click here).
The first project comes from Compañía Terminal de Tuxpan, which is contemplating an investment of over US$370.48 million for the first half of 2020. The company will launch new storage capabilities of solids and liquids totaling 1.3MMb. The second project is the finalization of new port facilities from the Tuxpan Port Terminal company which include the construction of 13 storage tanks with a capacity of 3.2MMb representing an investment of US$138 million. The third project by Services and Solutions Optimus will consist of a private offshore terminal for loading and unloading energy-related commodities representing an investment of over US$179.51 million. Catan Energía Terminal is in charge of the fourth project, which is the construction of a new docking position with fluid-managing capacities through an investment of over US$173.86 million. MTR Terminal will invest close to US$35.67 million in the fifth project, which will specialize in the transportation and storage of asphalt, grains, minerals, fertilizer and liquids, along with the transfer of hydrocarbons. Over US$39.38 million will be invested in the sixth project by Terminales Marítimas Transunisa, which will modify and dredge a section of the harbor to install specialized equipment for the management of liquid energy commodities. Finally, the seventh project will come from Andino Terminales México and consist on the expansion of its terminal to manage oil-derived products through an investment of close to US$295,000. In addition to these private investments, the Tuxpan port will be investing its own public resources into four essential modernization projects, which will include maintenance dredging of navigational areas.