APM TEC II

completed

The Company is developing a greenfield specialized container terminal at the existing Port of Lázaro Cárdenas, located in the State of Michoacán on Mexico’s Pacific coast, 620 km southwest of Mexico City (“the “Terminal” or ‘TEC II”). The site is located within an industrial area granted by APILAC on the northern extreme of the North Channel and comprises a total area of 102 hectares (once all stages are fully developed). The Port of Lázaro Cardenas has a total area of 4,385 hectares and includes several port terminals for the movement of general goods, minerals, grain and automobiles. The nearest community to the project site is the City of Lázaro Cardenas located approximately 2 kilometers from the site and on the opposite side of the Balsas River.The Project represents stage 1 of an investment under the contract with the Port Authority and primarily consists of (i) constructing a 750 meter quay for container berths; (ii) deepening the Terminal’s draft alongside to 16.5 meters; (iii) installing the necessary cargo handling equipment; (iv) installing rail tracks to facilitate rail evacuation of the cargo; and (v) developing the Terminal''s yard and supporting backup areas and infrastructure (the “Project”). The initial estimated throughput capacity of stage 1 will be of 1.27 million twenty-foot equivalent units (“TEUs”) of container handling capacity.