Marubeni Corporation has acquired a 25% stake in Mexican transport infrastructure concession company APP Coatzacoalcos Villahermosa. APP has won the concession for the improvement and 7.5-year maintenance of 135 kilometres of roads in southern Mexico, running between Coatzacoalcos in Veracruz State and Villahermosa in Tabasco State, under a public-private partnership (PPP). The stake was acquired from Mexican construction company Hycsa group, in an agreement signed in late August.
Marubeni will work on the project alongside Mota-Engil Group, one of the biggest construction companies in Portugal. It has a direct 40% stake in APP in addition to another 35% via a private fund which it manages.
The project is based on a 10-year concession agreement made between the Secretariat of Communications and Transportation of Mexico and APP in November 2016. APP has already completed the improvement portion of the project as of May 2019, and has already started the maintenance and management of the improved roads, which will continue until October 2026. The roads are mainly used by freight transportation vehicles such as heavy trucks and will contribute to regional logistics support.
Marubeni said it considers PPP projects in the field of transport and infrastructure to be one of its core strategies. It has been expanding its footprint in the market since participating as one of the largest shareholders in Australia’s Gold Coast Light Rail PPP project in 2011.
Marubeni subsequently participated in the extension of the Gold Coast project, as well as the Sydney Metro Northwest and Sydney Metro City & Southwest PPP project in the country.
Moving forward, Marubeni said that it will pursue business expansion and greater presence in road PPPs. Marubeni will also play an active role in contributing to the further development of regional infrastructure in Mexico through the execution of the project.