Cost Of Mayan Train Increases
Home > Infrastructure > Weekly Roundups

Cost Of Mayan Train Increases

Photo by:   FONATUR
Share it!
Thu, 10/28/2021 - 18:20

During Senate hearings this week, FONATUR Director Rogelio Jiménez Pons admitted that the expense needed to finish the Mayan Train has increased from US$6.87 billion to almost US$9.81 billion. However, Jiménez Pons states that the tourist developments taking place all over the Yucatan peninsula will ultimately make the Mayan Train a profitable endeavor, along with its rail cargo applications.

Ready for More? Here’s the Week in Infrastructure!

AMLO to Check on Mayan Train Progress

President López Obrador announced that as part of his presidential tour beginning in Yucatan, he would check in on the progress of the Mayan Train construction. “We will take advantage of our trip to take a tour of the entire Peninsula and to supervise the Mayan Train. We will fly 1,500km by helicopter to check the progress.” López Obrador announced that he will conduct a working tour that will begin in Merida and end in Campeche. Authorities have said that the Mayan Train, one of the government's flagship projects, will be ready in 2023. The 60.3km southern section is 22.4 percent complete, while the northern section is undergoing geophysical surveys. Authorities have announced that work on the northern section is expected to begin in 2022.

Problems With the Healthy Water Project Being Addressed: AMLO 

López Obrador announced that senator Gabriel García will oversee the Healthy Water Program for the Lagunera region. The president explained that it was necessary to have a representative overseeing the project due to the multiple obstacles that have been put in the project’s way to stop its implementation. Healthy Water is a project that seeks to bring clean water to the municipalities of Lerdo, Gomez Palacio, Tlahualilo and Mapimi in Durango, and to Torreon, Matamoros, Francisco I. Madero, Viesca and San Pedro in Coahuila. A number of groups oppose the project, including Pro Defensa del Nazas, an environmental organization that promoted a legal suspension because two of the project’s installations were in a protected area. 

Kansas City Southern Announces Third Quarter Results

Kansas City Southern has released its third quarter results reporting revenues of US$744.0 million representing a 13 percent increase compared to 3Q20. However, overall carload volumes were down 3 percent compared to the previous year. This was due primarily to multiple commercial impacts. The company reported that its third quarter operating expenses totaled US$492.1 million, including US$36.5 million in merger costs, from the combination between Canadian Pacific and Kansas City Southern. Operating income totaled US$251.9 million and the reported operating ratio was 66.1 percent. In addition, third quarter net income was US$156.5 million or US$1.71 per diluted share.

Altamira Port to Host New Fuel Terminal

MEXPLUS Puertos has announced an investment of US$200 million to construct Mexico’s most modern fuel terminal to service Valero Energy, the leading US refiner and one of the world’s largest fuel producers. Valero’s new fuel terminal is backed by Mexican financing companies ABC Leasing and FinBe. The terminal is expected to have a storage capacity of 1.1 million barrels and a location in the highly-valued Tamaulipas-based port of Altamira, considered a domestic and foreign investment attraction hub. This strategic region will also allow the terminal to connect with other already-existing or to-be-built marine terminals.

Photo by:   FONATUR

You May Like

Most popular

Newsletter