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Thursday, 22 April 2010

Noble buys 25% stake in Mexico port terminal

Noble Group said on Thursday that it has bought a 25 per cent stake in Terminales Portuarias del Pacifico (TPP).

TPP has been awarded a tender to develop a multicommodity terminal facility at Lazaro Cardenas Port, on the west coast of Mexico.

Construction of the two-phase terminal is set to commence by May 1 2010, with completion expected in 2011. Phase 2 of construction is planned for 2017.

Noble, which is currently supplying thermal coal to CFE at the Lazaro Cardenas Port, said the terminal provides it strategic strength and flexibility in its deliveries to CFE.

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