Veracruz, Ver.- Through an award of international scope, Grupo CICE was distinguished with the “Port Financing of the Year” award, granted by LatinFinance, a leading media specialized in banking, investment, and infrastructure across Latin America. The award acknowledges the financial structuring implemented for the development of the Semi-Specialized Terminal for Containers and Project Cargo, located in the North Bay of the Port of Veracruz.
The distinction underscores that the financing operation, amounting to 210 million USD (equivalent to approximately 4,150 million pesos), sets a benchmark for the national port sector as it represents the first bank transaction aimed at the construction, equipping, and operation of a greenfield port terminal, developed entirely from its initial stage in a new area of the Port.
This financing was structured without sovereign guarantees or participation from multilateral institutions, meaning that it did not rely on government-backed assurances nor on support from international financial organizations. This highlights the confidence of the Mexican banking system in the financial strength, operational capacity, and execution capability of Grupo CICE.
The financial arrangement, led by Banco del Bajío with participation from Banorte, Bancomext, Bx+, Monex, and Multiva, was designed to ensure lender confidence through instruments such as trust agreements, corporate guarantees, and future cash flow securitization. Additionally, FIRA provided a long-term fixed-rate tranche, mitigating financial risks and contributing to a balanced project structure.
The financial structuring was led by Latam Capital Advisors as Financial Advisor, while Santamarina y Steta, S.C. served as Sponsor’s Counsel to Grupo CICE, and CMS Woodhouse Lorente Ludlow acted as Lenders’ Counsel to the participating financial institutions.
The operation combined revenues from Grupo CICE’s existing assets and activities with projected cash flows from the new terminal, establishing a mixed brownfield-greenfield financing structure, which integrates operating assets with new development investments, thereby reinforcing the project’s long-term financial viability and sustainability.
Since its operational launch in April 2025, CICE’s North Bay Terminal has become recognized as a benchmark for modern port facilities in Mexico. It has received leading global shipping lines, handling regular import and export container services, with capacity to operate two vessels simultaneously totaling up to 490 meters in length at its 550-meter-long quay with 14 meters of draft. Its infrastructure includes multimodal yards, storage facilities, refrigerated chambers, and a 2,000-meter rail connection, designed to reach a dynamic capacity of up to 500,000 TEUs per year, enabling fully integrated and efficient logistics operations.
Through this investment, Grupo CICE reaffirms its commitment to the economic and logistical development of Mexico, consolidating the Port of Veracruz as a strategic hub for international trade and strengthening Mexico’s position in the global supply chain through sustainable and innovative solutions that enhance connectivity and operational efficiency. The recognition by LatinFinance reflects the solidity, strategic vision, and leadership of Grupo CICE in advancing the national port system and supporting the country’s foreign trade growth.
Grupo CICE is a leading Mexican consortium specializing in integrated port, logistics, and land transportation solutions. Established in Veracruz, Mexico, by 116 mexican shareholders, whose experience as customs agents, shipping agents and in the transportation sector laid the foundation of the group, more than 30 years ago, in 1991.
