MX$9.69 billion investment for Salina Cruz port
A MX$9.69 billion investment is heading to Oaxaca’s Salina Cruz port the Ministry of Communications and Transports (SCT) has reported. The goal is to revamp the port which has been a cornerstone for PEMEX’s operations and will be a key element in the Trans-isthmus Corridor project, one of the main infrastructure projects of President Andrés Manuel López Obrador’s administration.
The investment figure was decided upon based on a cost benefit analysis carried out by SCT. The announced investment will be only the start of a comprehensive rescue program in the port. No additional figures were disclosed for further stages.
The project will help to transport more fuels along the Mexican Pacific Coast and replace the current transport system, now 40-years old and originally intended to be temporary, which is in a dire state. The project will be more efficient, cheaper to run, and reduce threats to both the environment and workers, SCT said.
The Salina Cruz port is a strategic location in PEMEX’s logistic and commercial plans in the coming years. The port is also closely linked to the Trans-isthmus Corridor project, which aims to create a transport route to connect Mexico’s Pacific and Atlantic coasts.
The new route for oil and gas exports connecting Asia and the US though the Trans-isthmus Corridor could also provide services for private companies, and represents a big business opportunity for Mexico. A pipeline for the corridor is already being discussed.
Oil cargo operations will need to be significantly expanded to match the expected increase in production from the refineries in Salina Cruz and in Minatitlán, and also for the Dos Bocas project, the SCT analysis highlighted.