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HPH Launches New US$244 Million Facility at Port of Lazaro Cardenas, Mexico

[November 26, 2007 - Hong Kong] Hutchison Port Holdings (HPH), the world's leading port investor, developer and operator, is pleased to announce the grand opening of the Phase I Expansion of Lazaro Cardenas Terminal Portuaria de Contenedores (LCT) at the Port of Lazaro Cardenas, Mexico.

In commemoration of this special occasion, a quay-side celebration was organised on November 23 at LCT in the presence of His Excellency Felipe Calderon, President of Mexico and John Meredith, Group Managing Director of HPH. The event was attended by over 500 guests including senior Mexican government officials and senior executives of the maritime industry.

President Calderon praised the swift development of LCT and said, "It brings a much-needed deep-water container-handling facility to the country and will provide strategic links to global carriers by facilitating the movement of cargo between the Pacific region and the Mexican hinterland. The expansion enhances the Port of Lazaro Cardenas' unique advantages, which will attract the necessary investment to develop other peripheral logistics services."

Commenting on the expansion programme, John Meredith, Group Managing Director of HPH, said, "HPH first invested in the Port of Lazaro Cardenas in 2003 when we reopened a single-berth terminal, and made a commitment to transform and expand this terminal into a modern container-handling facility. We have already enjoyed some significant achievements in the past few years."

Mr. Meredith continued, "With the completion of the Phase I Expansion, LCT is now a world-class container terminal which is outfitted with the latest handling equipment, capable of receiving the largest vessels afloat. All these port infrastructure developments, which are unprecedented in Mexico, have generated thousands of direct and related employment opportunities for people living in Lazaro Cardenas, supporting the economy of the State of Michoacan."

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