Contecon Manzanillo starts Phase 3 port expansion
Contecon Manzanillo (CMSA), International Container Terminal Services, Inc.’s (ICTSI) subsidiary in Mexico, recently commenced its third phase expansion project, which will increase its capacity from 1.4 million to more than two million TEUs within the next five years, according to the company's release.
The third expansion phase will enable the Port of Manzanillo – a key port in the Pacific Coast of Mexico – to expand its operational capacity and cater to the country’s current and future foreign trade requirements.
The investment plan for 2022 to 2025 would cost more than USD230 million, which will mainly be utilized to upgrade shipping and terminal infrastructure, storage yards and equipment. The capacity increase to two million TEUs will position Contecon as the largest terminal in Mexico’s Pacific coast.
CMSA’s expansion will create more than 600 new direct jobs, in addition to the existing 1,200, along with 11,600 indirect jobs, making the company one of the most committed employers in Colima. This boost in growth and the goal of consolidating the Port of Manzanillo’s position as the most important and competitive in the country prompted CMSA to start the third phase of the new port expansion project and serve the country’s foreign trade needs in the coming years.
The company has invested around USD122 million (note: original figure in the copy is 2,400 million Mexican pesos) in port equipment since starting operations, contributing more than USD238 million (note: original figure is 4,700 million Mexican pesos) in port considerations to Mexico’s port infrastructure and generating employment for more than 1,200 people.
