Mexico-based Caxxor Group is seeking investors for a proposed North American trade corridor aimed at connecting the Mexican Pacific Coast with the United States and Canada through a new rail corridor.
Dubbed the United States-Mexico-Canada Agreement (USMCA) Corridor, the proposed new trade route would require building a logistics terminal in Winnipeg, Canada, and expanding the shipyard at the Port of Mazatlán in Mexico. The new logistics terminals would handle containers, automobiles, bulk commodities and petroleum products.
The project would also require the construction of 54 miles of rail lines in Mexico to go with the more than 146,000-miles of existing railroad infrastructure that runs through the U.S., Mexico and Canada.
The aim is to increase transcontinental competitiveness through rail connectivity across North America, as well as reduce freight costs and transport times, said Carlos Ortiz, president of Caxxor Group.
“The USMCA Corridor project proposes a new strategic corridor from the Pacific Ocean in Mexico to connect with the central east and eastern part of the United States, through Mexico’s most productive industrial region, since the corridor would touch the [Mexican] states of Sinaloa, Durango, Monterrey and the cities of Laredo, Dallas, Tulsa and Chicago,” Ortiz said in news outlet Milenio.
Caxxor Group is a Mexican conglomerate that funds projects in infrastructure development. The company is an affiliate of Atlanta-based National Standard Finance, a multinational investment real estate firm.
Ortiz said about $1 billion to $3 billion would be needed to expand the shipyard at the Port of Mazatlán, build new rail lines in Mexico, construct the Winnipeg logistics center, as well as the construction of industrial parks and other facilities in Mexico.
Ortiz did not have a timetable for the USMCA Corridor’s completion but said Caxxor Group has been communicating with investors.
Click for more FreightWaves articles by Noi Mahoney.
More articles by Noi Mahoney
CFI expands Mexico trucking services
Brokerage Compliance Symposium
The day before F3. Every compliance issue you face - fraud exposure, carrier liability, FMCSA rules, cargo theft, insurance gaps - navigated by attorneys and operators defining best practices in a changing industry.
F3 Awards Dinner
The night before F3. FreightTech100 companies honored. FreightTech 25 and Shipper of Choice winners revealed live. Cocktail reception into dinner and live music - 300 industry leaders in one purpose-built room.
F3: Future of Freight Festival
Industry-defining keynotes, rapid-fire technology demos, and industry leaders networking in experiences across Chattanooga - plus the inaugural F3 Awards Dinner featuring the FreightTech and Shipper of Choice reveals.
The day before F3. Every compliance issue you face - fraud exposure, carrier liability, FMCSA rules, cargo theft, insurance gaps - navigated by attorneys and operators defining best practices in a changing industry.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register NowThe night before F3. FreightTech100 companies honored. FreightTech 25 and Shipper of Choice winners revealed live. Cocktail reception into dinner and live music - 300 industry leaders in one purpose-built room.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register NowIndustry-defining keynotes, rapid-fire technology demos, and industry leaders networking in experiences across Chattanooga - plus the inaugural F3 Awards Dinner featuring the FreightTech and Shipper of Choice reveals.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register Now