Government Doubtful on Mexico Megaport

Mexico’s government expects to postpone construction of its planned Punta Colonet port on the Pacific Coast, the transport ministry says in a presentation posted on its website. The delay may be indefinite as interested bidders would likely struggle to finance the $5bn project. Transportation minister Luis Tellez says there is still interest in the port, but it is a question of timing, according to wire reports. The ministry is working with Citi and another US advisor to see if it is still possible. The port in northern Baja California was to feature an airport and rail links to the southwestern US and was slated as the single biggest project in president Felipe Calderon’s infrastructure agenda. Calderon launched a call for bids in August with much fanfare, and Mexico hoped to receive bids by January. The government still plans to proceed with other auctions this year, including a second Farac toll package, for which bids are due at the end of February.