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Mexico's ICA dumped from $300 million port project

Thursday, January 21, 2016

Port operator APM Terminals, part of Denmark's A.P. Moller-Maersk, has dropped Mexico's ICA construction firm from a $300 million port project after it ran out of cash and could not continue work.

ICA, which has defaulted on debt payments, was dismissed at the end of December from the project to build a new container terminal in the major Mexican Pacific port of Lazaro Cardenas.

Source: Reuters