BanderasNews
Puerto Vallarta Weather Report
Welcome to Puerto Vallarta's liveliest website!
Contact UsSearch
Why Vallarta?Vallarta WeddingsRestaurantsWeatherPhoto GalleriesToday's EventsMaps
 NEWS/HOME
 AROUND THE BAY
 AROUND THE REPUBLIC
 AMERICAS & BEYOND
 BUSINESS NEWS
 TECHNOLOGY NEWS
 WEIRD NEWS
 EDITORIALS
 ENTERTAINMENT
 VALLARTA LIVING
 PV REAL ESTATE
 TRAVEL / OUTDOORS
 HEALTH / BEAUTY
 SPORTS
 DAZED & CONFUSED
 PHOTOGRAPHY
 READERS CORNER
 BANDERAS NEWS TEAM
Sign up NOW!

Free Newsletter!

Puerto Vallarta News NetworkNews Around the Republic of Mexico 

Mexico Expects a Surge in Growth at Gulf Coast Ports

go to original
April 28, 2015

Guillermo Ruiz de Teresa, general co-ordinator of Mexican Ports and Merchant Marine, said expansion at the port of Vera Cruz will be the most important Mexican port project in the next few years.

Vera Cruz - Mexico's top port official expects energy sector reforms to fuel a surge in growth at ports along the country's Gulf coast.

Guillermo Ruiz de Teresa, general co-ordinator of Mexican Ports and Merchant Marine, said deep water offshore oil contracts could do for Gulf of Mexico ports what the container trades did for Pacific coast ports.

"With increasing investment in new offshore deals, there will be a strong push towards maritime activities in the Gulf, which will strengthen our logistics potential as a crossroads between the major economies of the world," said Ruiz de Teresa at the American Association of Port Authorities' spring conference on 20 April in Washington, DC.

As part of a plan by Mexican President Enrique Peņa Nieto to "transform Mexico into a global logistics platform," Ruiz de Teresa said the Mexican government will invest more than $5 billion USD in the country's port sector by 2018.

In addition to building four new ports that will cater to demand from the offshore energy sector, Ruiz de Teresa said expansion at the port of Vera Cruz will be the most important Mexican port project in the next few years.

After anticipated start-up in 2018, the multi-purpose Gulf Coast port is expected to handle an additional 66 million tons of cargo by 2024, making a total of 88 million tons.

To contact the author of this article, email John.Gallagher@ihs.com.