Mexico president wants to revoke concession for Hutchison-run port By Reuters

Mexico president wants to revoke concession for Hutchison-run port By


© Reuters. FILE PHOTO: Mexico’s President Andres Manuel Lopez Obrador attends a news conference at the National Palace in Mexico City

MEXICO CITY (Reuters) – Mexico’s president on Tuesday said he would try to revoke a “100-year” concession from the company running the major port of Veracruz in the Gulf of Mexico, apparently referring to a unit of Hong Kong’s CK Hutchison Holdings Limited (HK:).

Speaking at his daily news conference, President Andres Manuel Lopez Obrador declined to name the operator, but questioned how it was possible that a private company had been able to secure such a long hold on the concession.

“Obviously, we need to see about getting this concession revoked,” said Lopez Obrador, who has repeatedly suggested previous governments he regards as corrupt were too generous in handing out contracts and concessions to private investors.

Hutchison Ports ICAVE, part of CK Hutchison Holdings, on its website notes that it operates in the port of Veracruz, one of Mexico’s most important cargo hubs.

The firm did not immediately reply to a request for comment.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *


About us

InvestLab is a financial services technology company focused on the global trading market. Founded in 2010 in Hong Kong, the company develops trading, market data, and social research products that enable individual investors and small to mid-size brokers to access global markets. We provide brokers and financial institutions cross border capabilities for retail investors into 43 markets globally.


CONTACT US

CALL US ANYTIME