According to news reports in a number of Mexican publications, FONATUR (Federal Tourism Promotion Fund) has announced that the much ballyhooed Nautical Ladder's final form has been canceled and the assets of the 10 projects that have either been completed or partially completed will be sold. FONATUR, which over the past six years received more than $1500 million pesos of investment for the project from the federal government, made clear that they no longer have a budget for further investment in it.
Juan Manuel Galarza Tohen, Director General of FONATUR port operations, is cited as saying Merrill Lynch will be the financial agent for the divestiture process. The completed marinas include those in Mazatlan, Sinaloa; Puerto Escondido, La Paz and Santa Rosalia in Baja California Sur; San Felipe in Baja California (Norte); San Blas, Nayarit; Puerto Peñasco and San Carlos, Sonora. In an unfinished state are marinas in Topolobampo, Sinaloa and Santa Rosalillita, BCN.
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Nautical Ladder Dead in the Water | Rocky Point Tides
That thing was an over-hyped white elephant since its conception, IMO, and a horrible idea ecologically speaking. I'm very glad to hear of and report on its demise.