A Mexican company is seeking investment to develop a North American trade corridor between the Pacific coast port city of Mazatlán, Sinaloa, and Winnipeg, Canada.
Caxxor Group is aiming to raise US $3.3 billion in initial investment to build a new port and shipyard in Mazatlán, industrial parks in an undisclosed number of locations in Mexico, a Mexican exports logistics center in Winnipeg and 87 kilometers of railway tracks in Sinaloa.
The company’s general director told the newspaper Milenio that the so-called USMCA corridor (named after the new North American trade pact) will be a privately-funded project.
Carlos Ortiz said several groups have already shown interest in the project and progress has been made in obtaining the required permits in Mexico, the United States and Canada. It is expected to start in the second half of 2021.
Investment of $1 billion will be allocated to the port in Mazatlán, which will primarily receive agricultural, automotive, manufacturing and energy sector freight, he said.