Lazaro Cardenas Container Terminal

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In April 2003, Controladora y Operadora de Terminales (COT) won a concession to operate an existing one berth container terminal and development rights for an 85 hectare deepwater terminal in the port of Lazaro Cardenas for 30 years. The special-purpose vehicle LC Terminal Portuaria de Contenedores S.A. de C.V was formed as the concession holder. In July 2003, Hutchison Port Holdings, subsidiary of Hutchison Whampoa Ltd, acquired a 51% stake in LC Terminal Portuaria de Contenedores S.A. de C.V. The project was intended to take full advantage of the NAFTA rail corridor which connected the Gulf of Mexico with east coast of the United States. Hutchison Port Holdings was in competition with Stevedoring Services of America – Mexico (SSA-Mexico) for the project. The container terminal had a capacity of 60,000 TEU at the time of contract signing. The development of the deepwater terminal was delayed for several years. In 2006, Hutchison Port Holdings began construction of its US $244 million “phase 1” expansion of its container terminal with new a deep-water container-handling facility. Capacity of the terminal was expanded from its initial 100,000 TEU to 700,000 TEU. phase two and phase three expansions were also scheduled but had not yet been realized. None None