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Mexico-based Caxxor Group is seeking investors for a proposed North American trade corridor aimed at connecting the Mexican Pacific Coast with the United States and Canada through a new rail corridor.
Dubbed the United States-Mexico-Canada Agreement (USMCA) Corridor, the proposed new trade route would require building a logistics terminal in Winnipeg, Canada, and expanding the shipyard at the Port of Mazatlán in Mexico. The new logistics terminals would handle containers, automobiles, bulk commodities and petroleum products.
The project would also require the construction of 54 miles of rail lines in Mexico to go with the more than 146,000-miles of existing railroad infrastructure that runs through the U.S., Mexico and Canada.
The aim is to increase transcontinental competitiveness through rail connectivity across North America, as well as reduce freight costs and transport times, said Carlos Ortiz, president of Caxxor Group.
“The USMCA Corridor project proposes a new strategic corridor from the Pacific Ocean in Mexico to connect with the central east and eastern part of the United States, through Mexico’s most productive industrial region, since the corridor would touch the [Mexican] states of Sinaloa, Durango, Monterrey and the cities of Laredo, Dallas, Tulsa and Chicago,” Ortiz said in news outlet Milenio.
(Image: Caxxor Group)
Caxxor Group is a Mexican conglomerate that funds projects in infrastructure development. The company is an affiliate of Atlanta-based National Standard Finance, a multinational investment real estate firm.
Ortiz said about $1 billion to $3 billion would be needed to expand the shipyard at the Port of Mazatlán, build new rail lines in Mexico, construct the Winnipeg logistics center, as well as the construction of industrial parks and other facilities in Mexico.
Ortiz did not have a timetable for the USMCA Corridor’s completion but said Caxxor Group has been communicating with investors.
More articles by Noi Mahoney
This article first appeared on www.freightwaves.com
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