Maersk says enters $900 mln Mexico port project

COPENHAGEN Aug 1 (Reuters) - APM Terminals, the ports arm of Danish oil and shipping group A.P. Moller-Maersk , said on Wednesday it would develop a container terminal in Mexico in a project with a total investment cost of over $900 million.

The company said in a statement it had signed a 32-year concession contract with the Port of Lazaro Cardenas (APILAC) for the design, financing, construction, operation, and maintenance of a new specialised container terminal.

APM Terminals will start construction by September this year, and the first phase would be completed in 2015, costing over $300 million, it said.

APM Terminals has signed a contract with one of the major contractors in Mexico, Empresas ICA, for the project, the company said. (Reporting by Copenhagen Newsroom)