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  HOME | Mexico

Peña Nieto Says $4.55 Billion Will Be Invested in Mexico’s Ports

MEXICO CITY – Some 58.6 billion pesos ($4.55 billion) will be invested to expand and modernize Mexico’s ports, President Enrique Peña Nieto said.

The government is committed to the development of all areas of Mexico’s marine industry, Peña Nieto said during a Navy Day ceremony Sunday in the Gulf port of Tampico.

Legislation will be updated as part of the effort to improve Mexico’s competitiveness in the maritime area, the president said.

The implementing regulations for the Maritime Navigation and Trade Law will be published in the next few days, Peña Nieto said, adding that his administration was working with Congress on a new marine industry promotion law.

“This year alone, more than 3.1 billion pesos ($241 million) are being invested in the industry’s organization, strengthening the fleet, the creation of high-value trade networks and the commercial use of more marine species,” the president said.

State-owned oil giant Petroleos Mexicanos (Pemex) plans to build a shipyard in Altamira, a city in the northeastern state of Tamaulipas, for the construction of oil rigs and specialized equipment.

“This is an innovative project that will allow our country’s petroleum production to increase,” Peña Nieto said.

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