Noble Group (SGX: N21) announced the acquisition of a 25% stake in Terminales Portuarias del Pacifico (TPP). TPP has been awarded a tender to develop a multi- commodity terminal facility at Lazaro Cardenas Port, on the west coast of Mexico.

Construction of the two-phase Terminal is set to start on or before 1 May 2010 with completion expected in 2011. Phase 2 of construction is planned for 2017.

It is estimated that the total capacity of the terminal on completion of both phases will be 6 million tonnes.

Grupo Mexicano de Desarrollo, an experienced operator, including of the Federal Mexican Electricity Commission’s (CFE) unloading facility in Lazaro Cardenas, will operate the terminal. The terminal provides Noble, which is currently supplying thermal coal to CFE at the Lazaro Cardenas Port, with enhanced flexibility in relation to its deliveries to CFE.

Noble says the terminal has sufficient room for expansion, which could lead to doubling of its footprint, in addition to opportunities to develop the supply of iron ore, petcoke and other bulk minerals.

The terminal also links with an efficient and reliable railway system to Mexico’s most important industrial zones located in central and the northeast of Mexico. This makes Lazaro Cardenas a natural gateway to the Pacific. It also connects with the United States south and southeast coasts.