Mexico’s president yesterday sought to revoke a “100-year” concession for the port of Veracruz in the Gulf of Mexico.
During a daily press briefing president Andres Manuel Lopez Obrador questioned how it was possible that a company had secured such a long hold on the rights for the key gateway port.
“Obviously, we need to see about getting this concession revoked,” he said.
A document later posted on Twitter by Lopez Obrador showed the concession was held by API Veracruz, the state-run port administrator created in 1993 by former president Carlos Salinas.
Hutchison Ports ICAVE, part of Hong Kong-based CK Hutchison Holdings, handles container operations at the port.
Hutchison Ports has a strong Mexican foothold in its global portfolio, with four facilities across the nation.