Mexican manganese and ferroalloys producer Minera Autlan is said to be selling its Tampico terminal, located in the port and city of same name, to ISAOSA Nutrientes Agricolas, according to a media report.
Minera Autlan's private terminal in Tampico, which has been idled for several years, is expected to be sold to ISAOSA, as negotiations are very "advanced."
"The [ISAOSA] Guadalajara-based group manages an important volume of cargos at the Manzanillo and Guaymas ports, and has just started up operations in the Mexican Gulf, so it wants to have a specialized terminal for fertilizers [in Tampico]," said Jesus Orozco Alfaroe, director at the Port of Tampico.
The executive said ISAOSA's interest in acquiring a terminal in Tampico made it easier for Minera Autlan to sell the idled asset.
"Negotiations are very advanced and we estimate [ISAOSA] could begin [additional] construction [in Autlan's facility] in 2017," the executive said, adding the ISAOSA group should invest some MXN 200 million ($9.7 million) in the terminal.