APM Terminals and the government of Yucatan have signed an agreement to modernise the Port of Progreso with a private investment of MXN3,215 million (US$188 million), reports Saint Petersburg's PortNews
APM Terminals and the government of Yucatan have signed an agreement to modernise the Port of Progreso with a private investment of MXN3,215 million (US$188 million), reports Saint Petersburg's PortNews. Governor Joaquin Diaz Mena said the port will become an international logistics hub connecting Mexico with Europe and America. The announcement was made at the port alongside Captain Claudia Hernandez Soto of the Secretaria de Marina.
The agreement was signed between Beatriz Vera Selbaine, Director General of APM Terminals Mexico, and Ermilo Barrera Novelo, head of the Secretaria de Economia y Trabajo (SEYt).
APM Terminals Mexico unveiled a long-term plan to upgrade its Progreso terminal over 19 years. The investment exceeds MXN3,000 million and includes first-tier infrastructure, advanced technology and renewable energy use.
The project is expected to generate 230 direct jobs and over 1,100 indirect jobs. The Governor said it will boost competitiveness for Yucatecan products and create local employment opportunities.
APM Terminals operates container and multipurpose cargo facilities globally through locally incorporated entities under national port regulations.
APM Terminal Yucatan is the company's operational unit at Progreso, providing cargo-handling services under Mexican port laws and local permits.
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