Mexican President Felipe Calderon has launched a project to build a US$5 billion Pacific coast container port that would triple the country's capacity, Reuters reported.
The container port would be connected by rail to the US.
The port is planned for Punta Colonet on the Baja California peninsula near the US border. It will eventually be able to handle up to six million TEUs per year, and receive cargo coming from Asia for North American markets.
Los Angeles and Long Beach, the main ports in southern California, are struggling to handle the explosive growth in trade with Asian nations, led by China's export boom.
The port in Mexico would be well-positioned to become an important player on that trade route.
CargonewsAsia
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