Image credits: Expansión
News Article

Developer Criticizes Infrastructure Projects

By Pedro Alcalá | Thu, 04/16/2020 - 19:24

Criticism regarding the government’s prioritization of its most visible infrastructure projects, particularly in the face of continuously extended shutdowns and increasing phases of contingency protocols, have come from a number of sources. These voice of opposition have included CCE, the PAN party and even banks like BBVA. President López Obrador, for the most part, has ignored or dismissed these complaints. Now a new voice has added itself to the chorus: Finsa’s President and CEO Sergio Argüelles. In an interview with Expansión, Argüelles said “the Mayan train is not the right thing to do and neither is building a refinery that we know will not be internationally competitive on its own.” Argüelles continued by saying that this situation was further exacerbated by the need for a clear economic recovery plan once the dust settles on what is sure to be a very difficult recession as a result of COVID-19 shutdowns.

Argüelles argues that economic recovery must come from investment in other infrastructural sectors. This approach must include a plan for highway expansions and maintenance, increasing the number of venues for private investment in electric power generation and distribution, rainwater collection facilities and water treatment plans. Argüelles explains that “we need the government to detonate the kind of investments that can help the industry recover the time lost due to the necessary shutdowns of non-essential activities.” As the administrator of 26 industrial parks hosting 300 manufacturing plants in the northern and central regions of Mexico, Finsa gives Argüelles a unique perspective on the paths and status of infrastructure and industrial growth and development in the country. At the same time, Argüelles does try to downplay the impact that COVID-19 is having on his own particular position by highlighting that Finsa is still working on all contracted projects, especially since a segment of its activities is classified as essential due to the role that it plays in the manufacturing of life-saving medical equipment. 

The data used in this article was sourced from:  
MBN, Milenio, Impacto, Expansión
Photo by:   Expansión
Pedro Alcalá Pedro Alcalá Senior Journalist & Industry Analyst