Sheinbaum Oversees Expansion of the Port of Veracruz
Summary
Scheduled to begin operations in April 2025, the terminal will increase the ports capacity and serve as a critical hub for maritime trade. It is expected to generate 500 permanent direct jobs and over 1,200 indirect jobs, strengthening the regions economy, as previously reported by MBN.Awarded through a public bidding process, the 22ha terminal will feature state-of-the-art infrastructure, including 550m of dock space with a 14m draft, two berthing positions, a multimodal yard with 1,970m of rail spur, and a wastewater treatment plant. Grupo CICE secured a MX$4.15 billion (US$202.5 million) syndicated loan from BanBaj\xedo, Banorte, Multiva, Bancomext, Bx+, and Monex, with support from the Trusts Established in Relation to Agriculture (FIRA), to finance the construction and equipment for this new terminal, as MBN reported.During the visit, held on Feb. 14, Nahle proposed the construction of a coastal railway linking Veracruz, Tuxpan, and Altamira, eventually extending to Monterrey. The goal is to improve transportation from Yucatan to Nuevo Laredo, addressing connectivity challenges, particularly in Veracruz, which still faces some north-south transit issues. Some sections of the route have poor road conditions, heavy traffic, and ongoing issues on federal highways.Sheinbaums visit also resulted in the approval of major infrastructure projects to enhance Veracruzs transportation network.