Mexico will postpone construction of its planned Punta Colonet port project on the Pacific Coast, and may scrap the project entirely, for lack of financing, according to a Bloomberg report.

The project was the biggest portion of President Felipe Calderon’s pledge to spend 570 billion pesos (US$41.2 billion) in public and private money on infrastructure projects in Mexico through 2012, the report said.

Mexico Law Blog previously reported on the project, the most detailed of which are available here and here.