New Port Plans Moving Forward in Mexico
"Mexico's government is setting sail with the largest infrastructure project in the nation's history, a $4-billion seaport that it hopes will one day rival those of Los Angeles and Long Beach."
"Plans call for the construction of a massive port in the tiny coastal village of Punta Colonet, about 150 miles south of Tijuana, along with new rail lines to whisk Asian-made goods north to the United States. Mexico's aim is to snatch some Pacific cargo traffic from Southern California's ports, whose growth is constrained by urban development and environmental concerns."
"Punta Colonet is expected to have a capacity of 2 million shipping containers annually when it opens in 2014, Mexico's transportation secretariat told The Times But officials envision it ultimately handling five times that amount. Last year, the ports of L.A. and Long Beach handled 15.7 million containers combined."
"The massive development is to be privately funded, with the first phase estimated to cost $4 billion to $5 billion. The government is expected to award the 45-year concession in 2009."