Latest news with #GreenCorridors
Yahoo
2 days ago
- Business
- Yahoo
$10B Trump-Approved ‘Green Corridors' Project to Drive Efficiency in US-Mexico Trade
The Trump administration has given the green light to a $10 billion infrastructure project designed to alleviate backups at the most heavily trafficked border crossing between the U.S. and Mexico. The president this month signed a presidential permit for Austin, Tex.-based Green Corridors, a freight transportation provider intent on building a 165-mile elevated 'guideway' that will ferry automated, freight-laden shuttles between Laredo, Tex., and Monterrey, Mexico. More from Sourcing Journal Forward Air Chairman Ousted, Potential Sale Appears in View Byte-Sized AI: Perfect Corp. and Nvidia Team Up; LuminX Gets Seed Round Chain Reaction: Dispatch Science CEO Arthur Axelrad on Turning Logistics into a 'Customer Experience Engine' According to the company, the Green Corridors Intelligent Freight Transportation System (GC-IFTS) will help reduce congestion by bypassing areas beset by gridlock—an issue that has had marked ramifications for shippers and importers. In 2019, $2 billion in U.S.-Mexico GDP was sacrificed to shipment slowdowns, as truck wait times at the country's busiest commercial bridges can be lengthy. If the issue persists unaddressed, the losses could mount to more than $100 billion by 2050, the company estimated. Tackling the problem will involve the construction of two cross-border terminals in Laredo and two in Monterrey, measuring around 100 acres apiece. Trailers will be moved via autonomous shuttles that run on both diesel and electricity and picked up by truckers at the end of the proverbial road to continue their journeys into the U.S. or Mexico. The system will have both economical and ecological upsides, the company said. The freight shuttles' hybrid propulsion system reduces emissions by 75 percent compared to diesel trucking, while also substantially slashing the cost of moving freight compared to conventional options. The terminals, too, will be equipped with solar arrays, regenerative cranes and hybridized power, and automated operations will allow the the GC-IFTS to run 24/7. Green Corridors' Intelligent Freight Transportation System will also promote stringent border security, the company said, as it scans all the freight entering the U.S., accelerating inspection times and integrating with U.S. Customs and Border Protection (CBP) protocols. It also creates more separation between commercial freight and passenger vehicles. Senator John Cornyn (R-Tex.) voiced his support for the effort and urged President Trump to sign the permit in a letter earlier this spring, underscoring the importance of the growing U.S.-Mexico trade relationship. In 2023, Mexico became the country's biggest trading partner, with the nations doing $798.9 billion in cross-border commerce. 'I am glad President Trump has approved the construction of the Green Corridors International Bridge facility, which will enhance efficiency and security at the Port of Laredo, our nation's top port of entry for international trade,' he said earlier this month. The trade tensions between Mexico and the U.S. that simmered earlier this year seem to have mostly cooled. Trump threatened the country with 25-percent across-the-board duties on all imports into the U.S. market, citing illegal migration and fentanyl trafficking as a reason to forgo the terms of the U.S.-Mexico-Canada Agreement (USMCA), which grants a wide variety of goods duty-free access to the American market. The country now faces 25-percent duties only on products that aren't covered by the trade agreement, along with tariffs on steel and aluminum. The president spared Mexico from his 'Liberation Day' reciprocal duties. Mexican President Claudia Sheinbaum was slated to meet with Trump to discuss trade issues at the G7 Summit in Canada this week, but the plan was thwarted when the American Commander in Chief left the event early. Sheinbaum said she spoke with Trump by phone soon after and the two vowed to work together to reach an agreement on 'various issues' soon.
Business Wire
3 days ago
- Business
- Business Wire
$10B Public-Private Project from Green Corridors, LLC, Will Secure and Modernize Trade Between the U.S. and Mexico
AUSTIN, Texas--(BUSINESS WIRE)-- Green Corridors, LLC ( a newly unveiled public-private logistics initiative, received approval from the White House on June 9 th to construct, maintain and operate the cross-border IFTS which links Laredo, Texas with Monterrey, Mexico. The system is designed to alleviate traffic congestion at the port of entry and in both cities while significantly improving security versus the status quo. With the U.S. Department of State, Customs and Border Protection, and international stakeholders fully engaged, the Green Corridors megaproject is poised to become the most advanced overland freight infrastructure deployment in North America. Share The WSJ has highlighted the bold infrastructure project and vision in an exclusive article on June 18, 2025. 'This project represents a paradigm shift in transportation with our largest trading partner,' said Green Corridors CEO Mitch Carlson. 'By separating freight from public traffic, we can significantly reduce transportation costs and solve serious congestion and safety issues.' The project introduces a complex system of software, elevated guideways, freight terminals and an autonomous shuttle fleet, which streamlines heavy trade corridors. With the U.S. Department of State, Customs and Border Protection, and international stakeholders fully engaged, the Green Corridors megaproject is poised to become the most advanced overland freight infrastructure deployment in North America. As reported in WSJ, a White House official noted the proposed Laredo to Monterrey project could reduce wait times for cross-border travel, improve supply-chain resilience and create additional capacity to support growing trade with Mexico. The Green Corridors project is not supported by government funding. The company generates revenue from multiple sources in its business model, including fees charged to customers moving freight through the system. The company is backed by a consortium of private-sector leaders, infrastructure partners, and logistics innovators including the Swinbank family office in Houston, Druker Capital in New York and the Chang Robotics Fund in Jacksonville, Fla. The company anticipates breaking ground within the next 36 months. The first operations are estimated to commence in 2031. About Green Corridors Green Corridors is a private infrastructure technology company creating secure, autonomous freight corridors to solve congestion issues. By integrating state-of-the-art technology with proprietary infrastructure, Green Corridors delivers a scalable, replicable model for the future of global logistics. For more information about project details, partnerships, investment opportunities, and executive vision and insights, readers can visit
Wall Street Journal
5 days ago
- Business
- Wall Street Journal
The $10 Billion Proposal to Speed Up U.S.-Mexico Trade
President Trump is breathing life into a $10 billion project to alleviate congestion at the country's busiest border crossing for trade between the U.S. and Mexico. Trump this month issued a presidential permit to Austin, Texas-based Green Corridors to build an 165-mile elevated 'guideway' for self-driving shuttles to haul freight between Laredo, Texas, and Monterrey, Mexico.
Yahoo
13-06-2025
- Business
- Yahoo
Automated cargo corridor project aims to modernize US-Mexico trade
Mitch Carlson, CEO of Green Corridors LLC, intends to create a cargo thoroughfare stretching from Laredo, Texas, to Monterrey, Mexico, where freight shuttles are guided not by human hands but by a state-of-the-art autonomous system. 'Picture a conveyor belt, an independent track,' Carlson told FreightWaves in an interview. 'The idea is you have 10 trailers in Monterrey and the trailers get picked up and loaded on 10 shuttles. That platoon of 10 shuttles leaves immediately and starts heading north. Meanwhile, another 10 shuttles are loaded in Laredo, leave and head south.' Carlson's project received a boost on Monday after the Trump administration granted a presidential permit to build an elevated and automated bridge connecting Laredo, Texas, to Nuevo Leon, Mexico. The Green Corridors International Bridge in Laredo will be part of a corridor system stretching about 140 miles south to new bridge will be built near the Laredo-Colombia Solidarity International Bridge and could transport thousands of loads a day. 'We are building it to have a max capacity of 10,000 in each direction per day,' Carlson said. The project, which aims to be operational by 2030, could cost in the range of $6 billion to $10 billion, Carlson said. The Green Corridors project arrives at a time when trade between the U.S. and Mexico continues to was the top U.S. trade partner for the second consecutive year in 2024, totaling a record-breaking $840 billion. For the first four months of 2025, Mexico has remained the largest trading partner of the U.S., with two-way commerce totaling $285 billion, according to Census Bureau data. The port of entry in Laredo is the largest inland port in the country, handling $339 billion in two-way trade in 2024, according to WorldCity. More than over 18,000 commercial trucks cross Laredo's World Trade and Colombia-Solidarity bridges daily in both directions. In addition to the bridge and cargo corridor, the Green Corridors project will also create new inland cargo ports in Laredo and Monterrey, which will handle loading and unloading the freight vehicles. Carlson said the autonomous shuttles will be powered by diesel engines, which will help cut emissions and air pollution in the region by reducing the number of trucks sitting idle at bridges waiting to cross the border. 'I've spoken to a lot of people in the trucking industry, who see this … as increased quality of life for their drivers, increased security and a reduction in [freight] cost for their clients,' Carlson said. 'We can move this freight between Monterrey and Laredo for significantly less cost and less emissions.' Carlson said the next step for the project is to work with officials on both sides of the border to secure the construction and right-of-way permits needed.'We are acquiring the concession agreement for the right-of-way for Highway 1 in the state of Nuevo Leon,' Carlson said. 'We're working with the Mexican federal and state government very closely.' The Green Corridors project is one of several cross-border trade initiatives that are planned in South Texas, including the 4/5 Bridge in Laredo and the Puerto Verde Global Trade Bridge in Eagle Pass. The $83 million expansion of the Anzalduas International Bridge in McAllen, Texas, is scheduled to be completed this year. The expansion project will add two additional lanes to the Anzalduas bridge, one each for northbound and southbound commercial trucks to go in and out of Mexico, as well as the necessary facilities for an international port. In December, Canadian Pacific Kansas City (NYSE: CP) railroad also opened the $100 million Patrick J. Ottensmeyer International Railway Bridge. The bridge is the second rail bridge spanning across the Rio Grande River — linking Laredo with Nuevo Laredo, Mexico — doubling CPKC's cross-border capacity. The post Automated cargo corridor project aims to modernize US-Mexico trade appeared first on FreightWaves.
