Maersk to invest $900m in Mexico terminal

COPENHAGEN: The port terminals arm of Danish shipping and oil group A.P. Moller-Maersk plans to invest $900 million in a new container facility at Mexico's port of Lazaro Cardenas, the company said on Thursday.

The Lazaro Cardenas port authority chose Maersk's APM Terminals unit as the winner of its deepwater container terminal bid and awarded it a 32-year concession of a greenfield site for the new terminal, APM Terminals said in a statement.