APM Terminals Lazaro Cardenas S.A. de C.V. to build & operate a new terminal on Mexico's Pacific coast. After winning a tender on December 15, 2011, APM Terminals Lazaro Cardenas S.A. de C.V. has now signed a 32-year concession contract with the Port Authority of the Port of Lazaro Cardenas (APILAC) for the design, financing, construction, operation, and maintenance of a new specialized container terminal at the port. APM Terminals will start construction by September of this year. The first phase will be completed in 2015, costing over USD 300 million. The terminal will undergo a phased expansion in accordance with provisions stipulated in the concession agreement. The entire project will require an investment of over USD 900 million.