by Manal Barakat, SeaNewsEditor
Mexico is set to undertake significant infrastructure improvements with two major projects in Manzanillo to enhance the country's transport and logistics capabilities.
The expansion of the Port of Manzanillo will be financed by 15.06 billion pesos ($741 million) in public investment and 48.56 billion pesos ($2.4 billion) in private funding.
According to local media, this project aims to increase the port's container capacity from 3.7 million in 2023 to 10 million by 2030, making it the largest port in Latin America, surpassing the seaports in Colón, Panama, and Santos, Brazil.
Officials at Mexico’s National Port System Administration highlighted that the port is currently ranked 53rd globally but is expected to rise to 15th place in international rankings.
Manzanillo is presently the third largest port in Latin America for shipping and serves as the main commercial route to Asia across the Pacific Ocean.
The expansion seeks to enhance regional efficiency and competitiveness, creating 11,132 direct and 28,626 indirect jobs.
In addition to the port expansion, the Mexican government has approved the expansion of the Colima-Manzanillo highway, La Salada section, from four to six lanes.
This project, which will cost over 4.97 billion pesos ($243 million), aims to alleviate traffic congestion in Manzanillo, reduce heavy cargo traffic, and decrease the number of road accidents.
Furthermore, the highway expansion is expected to expedite trailer entry and exit in the port area, further reducing road congestion.
