Grupo CICE Secures Loan for New Terminal at Port of Veracruz

Grupo CICE, a recognized leader in responsible port and logistics solutions, has formalized a syndicated loan to finance the construction and equipping of its new “Container and Cargo Project Terminal” at the Port of Veracruz. 

This new terminal, awarded through a public bidding process, aims to enhance the operational capacity of the strategic Port of Veracruz. The project spans 22ha and includes state-of-the-art infrastructure with 550m of dock and a 14m draft, two berthing positions, a multimodal yard with 1,970m of rail spur and a wastewater treatment plant.

The project is set to become a cornerstone for maritime trade in the region, with the first operational phase scheduled to launch in April 2025. Beyond strengthening foreign trade, it is expected to create 500 permanent direct jobs and over 1,000 indirect jobs, generating a significant economic impact on the local community.

The development will be financed through a MX$4.15 billion (US$200 million) syndicated loan with a term of up to 15 years. The financial structuring was led by Latam Capital Advisors, acting as Grupo CICE’s financial advisor. Key Mexican financial institutions participating in the operation include BanBajío (agent bank), Banorte, Multiva, Bancomext, Bx+, and Monex, with support from FIRA.

Legal guidance for the project was provided by Santamarina y Steta, advising Grupo CICE, and CMS Woodhouse Lorente Ludlow, representing the banking syndicate. This robust financial framework ensures the necessary resources to guarantee the project’s success.