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Mexico City, December 4, 2013
—IFC, a member of the World Bank Group, and APM Terminals Lázaro Cárdenas today signed a USD$300 million IFC financing for the construction and operation of a new technologically advanced deep-water container terminal at the port of Lázaro Cárdenas in the State of Michoacán on Mexico’s Pacific Coast. The new port facility, the first automated container terminal in Latin America, will significantly enhance Mexico’s trade and competitiveness with the ability to handle vessels of up to 15,000 TEU capacity.
IFC’s long-term financing includes USD$100 million from its own account and an additional USD$200 million raised through its syndication program from Bank of Tokyo-Mitsubishi UFJ, Ltd; Nordea Bank AB; and Skandinaviska Enskilda Banken AB. The total estimated total cost of the project is USD$900 million.
“APM Terminals welcomes IFC as its financing partner in the Lázaro Cárdenas project. We are very impressed with IFC’s capabilities, their high level of knowledge and expertise as well as the speed with which their organization moved financing of our project along”, said J. D. Nielsen, Managing Director of APM Terminals Lázaro Cárdenas. Adding, “APM Terminals is in Mexico to stay and we look forward to new investment opportunities in this prosperous country which is strategic for our long term plans”.
The APM Terminals Lázaro Cárdenas Terminal 2 (TEC 2) project, with a depth of 16.5 meters and an annual throughput capacity of 1.2 million TEUs, will improve efficiency for shipping lines as well as exporters and importers, alleviating bottlenecks and improving cost efficiencies in the transportation of containers through the Port of Lazaro Cárdenas, Mexico’s second-busiest and the fastest growing port. Lázaro Cárdenas handled 1.24 million TEUs in 2012, representing approximately 37% of Mexico’s Pacific container traffic.
APM Terminals’ Lázaro Cárdenas TEC 2 project will create about 1,000 jobs during the construction. Phase 1 of the development includes the construction of a 750 meter quay, installing state-of-the-art cargo handling equipment, an intermodal rail facility, and the development of an automated container yard and gate facility. Automation increases productivity and improves safety and security.
“IFC financing for the APM Terminals TEC 2 project is part of our strategy to support effective private sector participation in Mexico’s infrastructure, a key sector for increasing Mexico’s competitiveness and productivity” said Jean Philippe Prosper, IFC Vice President for Latin America and the Caribbean and Sub-Saharan Africa. “We are excited to partner with APM Terminals Lázaro Cárdenas in this landmark project which is aligned with the development priorities of the Government of Mexico.”
IFC’s strategy in Mexico is focused on investment and advisory projects that help accelerate growth, improve competitiveness, promote social inclusion, and reduce poverty. Between Fiscal Years 2011 and 2013, IFC invested USD$2.4 billion in Mexico, including USD$1,903 million from its own account and USD$584 million in mobilization. In 2012 alone, IFC projects in the country supported over 37,000 jobs, generated power for over 871,000 people, and reached more than 226,000 patients.
About IFC
IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector. We help developing countries achieve sustainable growth by financing investment, mobilizing capital in international financial markets, and providing advisory services to businesses and governments. In Fiscal Year 2013, our investments (including mobilization) reached an all-time high of nearly USD$25 billion, leveraging the power of the private sector to create jobs, spark innovation, and tackle the world’s most pressing development challenges. For more information, visit
www.ifc.org
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About APM Terminals
APM Terminals Lazaro Cardenas is a joint venture between APM Terminals B.V. (95%) and Controladora de Operaciones de Infraestructura, S.A. de C.V.(5%). APM Terminals, headquartered in The Hague is one of the world’s leading port operators with a Global Terminal Network of more than 70 facilities in 68 countries and 5 continents.
www.apmterminals.com
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