All members of Alabama’s U.S. House of Representatives delegation have come together to sign a bipartisan letter, urging immediate action to prevent Mexico from taking control of Vulcan Materials, a port operation that is currently under dispute.
Earlier this year, Mexican President Andrés Manuel López Obrador made an announcement declaring Vulcan’s land and port in the Mexican state of Quintana Roo as a naturally protected area.
In March 2023, the Mexican government took control of the facility, even though there was a court-ordered injunction against any government intervention to seized the facilit.
Mexican President Andrés Manuel López Obrador has stated that if Vulcan refuses to accept a $360 million offer for the gravel pits before his term ends next year, he will consider declaring the property a natural protected area or seizing it by force.
The Punta Venado deep-water port facility, according to Vulcan, is estimated to be worth over $1 billion.
López Obrador has accused the company of extracting materials without the proper permit.
The lawmakers expressed their concerns in a letter, stating that Mexico’s action is unwarranted and puts the long-standing bilateral relationship between the two countries at risk.
In a letter, concerns were raised about the Chinese government’s plans to gain control over infrastructure, particularly port facilities in Latin America. The letter expresses unease over the possibility of Mexico taking control of the sole deep-water port on the Yucatan Peninsula.
Losing control of this critical asset could have severe consequences for our security and trade within the Caribbean basin and the Gulf of Mexico, warns an expert.
