With an investment of $3.15 billion, the Port of Manzanillo was transformed into an international logistics hub
Mexico's Department of the Navy (SEMAR) has announced that it will oversee the expansion of the Port of Manzanillo between 2024 and 2030, with a total investment of 64 billion Mexican pesos (about $3.15 billion). The project is expected to transform Mexico's largest port into an international logistics hub, expanding its facilities by 303% to cover 18.158 million square meters.
In terms of funding, the project will consist of 15.06 billion pesos (about $741 million) of public investment and 48.56 billion pesos (about $2.4 billion) of private funding. Julieta Juarez Ochoa, marketing manager for Manzanillo at the National Port System Authority of Mexico (ASIPONA), said the port of Manzanillo is expected to jump from 53rd to 15th place in the global port rankings.
The expansion will not only enhance the port's operational capacity, but also enhance regional efficiency and competitiveness. According to government data, the project is expected to create 11,132 direct jobs and 28,626 indirect jobs, as well as boost the local economy.
Mexican President Claudia Sheinbaum will visit the site on November 23 to mark the official start of the project, which is expected to be completed by 2030. The authorities said they were committed to developing the port sustainably and had carried out an environmental impact assessment to mitigate the environmental impact of the project.
In terms of funding, the project will consist of 15.06 billion pesos (about $741 million) of public investment and 48.56 billion pesos (about $2.4 billion) of private funding. Julieta Juarez Ochoa, marketing manager for Manzanillo at the National Port System Authority of Mexico (ASIPONA), said the port of Manzanillo is expected to jump from 53rd to 15th place in the global port rankings.
The expansion will not only enhance the port's operational capacity, but also enhance regional efficiency and competitiveness. According to government data, the project is expected to create 11,132 direct jobs and 28,626 indirect jobs, as well as boost the local economy.
Mexican President Claudia Sheinbaum will visit the site on November 23 to mark the official start of the project, which is expected to be completed by 2030. The authorities said they were committed to developing the port sustainably and had carried out an environmental impact assessment to mitigate the environmental impact of the project.
