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- Administración Portuaria Integral de Lázaro Cárdenas S.A. de C.V.
- Empresas ICA S.A.B de C.V.
- Secretaria de Comunicaciones y Transportes
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Legal Issues | Privatization/Concession | Government/Regulations | Ports/HarborsResearch Reports
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MeneameHutchison Port Holdings (HPH) has won its appeal against the awarding of a concession for the construction and operation of a second terminal at Lázaro Cárdenas port on Mexico's Pacific coast, a source at HPH told BNamericas.
The Mexican federal court ruled in January 2011 against the validity of the tender following an appeal from HPH, which argued that the port authority had arbitrarily modified its master development plan to proceed with the tender for a second terminal.
Rather than suspending the bidding process, the transport and communications ministry (SCT) took the matter to the appeals court and awarded the concession to Mexican construction firm ICA (BMV, NYSE: ICA) and Denmark's Maersk in the interim.
On December 27, the appeals court again found in HPH's favor and ordered the indefinite cancellation of the terminal 2 concession.
As a result of the judgment, the signing of the new concession has been halted, the source said.
SCT legal counsel Gerardo Sánchez recognized that the concession was contrary to HPH's master development plan and "would prevent the company from recovering its investment."
The new terminal was expected to cost US$900mn, consisting of a 850,000m2 area and a specialized container terminal.
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