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LAZARO CARDENAS, Mexico: April 04, 2017. Mexico's president Enrique Peña Nieto and Denmark's prime minister Lars Lokke Rasmussen have inaugurated APM Terminals' latest box facility in Mexico.

The ceremony marked the official opening of the US$900 million deep-water terminal at the port of Lázaro Cárdenas with an annual capacity of 1.2 million TEUs that is expected to increase to over four million TEU by 2030.

Mexicos president Enrique Pena NietoThe port is Mexico's second-busiest container gateway, handling 1.11 million TEU in 2016 and with an annual growth rate of 5.2 percent. Over 90 percent of the country's Pacific Coast trade passes through either Lázaro Cárdenas or the Port of Manzanillo, 200 miles to the north.

"Markets with strong trade alliances tend to outperform global growth and Mexico alone has signed more than 45 free trade agreements, making it one of the world's most important economies, said A.P. Møller-Maersk CEO Søren Skou. "Maersk is committed to Mexico, and across our transport and logistics brands, we employ more than 800 people locally," he said.

The new facility, which joins APM Terminals Yucatan, is currently performing 30 percent above expected container turnaround times, according to the company.

"We are working hard to make this terminal as efficient as possible for customers," said APM Terminals chief commercial officer Henrik Lundgaard Pedersen. "The terminal's strong geographic position on the coast and its connection with our inland terminal at Cuautitlan Izcalli in the industrial zone of Mexico City, ensures our customers have easy access to inland distribution centers and a consumer market of over 120 million people."

The Mexican economy expanded by 2.2 percent in 2016 as port volumes rose 4.6 percent to 5.66 million TEU, behind only Brazil and Panama in Latin American port container traffic.

Pictured: Enrique Peña Nieto followed by Lars Lokke Rasmussen.

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