Ferrovalle plans US$21mn investment to expand, improve ops.
Bnamericas Published: Tuesday, February 01, 2005
Central Mexican cargo distribution company Ferrocarril del Valle (Ferrovalle) plans to invest more than US$21mn this year in infrastructure and logistics, newspaper El Financiero reported. Of that amount, some US$6mn will be spent on developing and expanding the intermodal terminal at Pantaco and adding gantry cranes to increase efficiency in loading and unloading containers, Ferrovalle operations director Antelmo Melgarejo was quoted as saying. Other plans include paving 3.5ha of storage area, updating intranet and internet systems, and increasing the lighting system and interconnection services, he added. The federal government and rail concessionaires TFM, Ferromex and Ferrosur each own 25% of Ferrovalle shares. Grupo TMM (NYSE: TMM) is in the process of selling TFM to US rail company Kansas City Southern (NYSE: KSU) for US$200mn. Ferrovalle organizes and distributes rail-based cargo.
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