Infrastructure Investment Drops 48.4 percent in 1Q21By Lorenzo Núñez | Thu, 05/20/2021 - 18:17
Infrastructure investment suffers a 48.4 percent drop during 1Q21 and Mexico’s poorest regions struggle with water supplies. In addition, CBX expansion has been approved and set to being at the end of 2022, and Yucatan is expected to receive major investments in Tourism Projects.
This and more, in your Weekly Infrastructure Round Up!
The Ministry of Communications and Transportation (SCT) allocated a total of US$323 million during 1Q2021 to infrastructure projects, such as bridges, roads, railways and port works, representing an investment decrease of 48.4 percent compared to 4Q2020, reported the Ministry of Finance and Public Credit.
The widespread drought Mexico is experiencing might strain water availability for drinking, farming and irrigation throughout the country. However, gaps in water supply only reflect other types of inequality the population faces.
California approved the expansion of the Cross Border Xpress (CBX), a pedestrian border bridge that connects the US to the Tijuana International Airport, reports A21. The project includes a 646 m2 expansion of the Cross Border Police processing area. . The goal of the project is that all passengers that go into or exit the US through Tijuana do so using the CBX. Mexican authorities expect the project to be completed by December 2022.
Mexico City’s Subway Line 12 controversy continues as media reports show that the collapsed metro line had been monitored and tracked from Sep. 13 to Dec. 19, 2019. The company in charge of the inspection was Ingeniería, Servicios y Sistemas Aplicados (ISSA), the same company that received a US$250 thousand payment from SCT for those services. Florencia Serranía Soto, Director of the Mexico City metro system, assured that during the 2019 metro line reviews there were no worrying claims. The line 12 metro collapsed on May 3rd, leaving 26 people dead.
As a result of a geological phenomenon called groundwater-related subsidence, Mexico City continues to sink. This phenomenon usually happens when the land begins to compact because too much water is drawn from the underground. The sinking activity, which is likely to affect most of the Mexico City Metropolitan Area, is unequal and therefore, places the area’s infrastructure under different stresses. Mexico City's case, unlike subsidence in many other cities around the world, does not seem only to reflect local groundwater pumping rates. Instead, it reflects the steady compacting of the ancient lakebed on which the city was built. The origins of the problem lie in Mexico City's bad foundations. The problem is also likely to affect approximately 22 million people living in the Mexico City Metropolitan Area.
The Governor of Yucatan, Mauricio Vila Dosal, announced the arrival of 17 companies that will develop tourism, real estate and restaurant projects in the state. Governor Vila Dosal gave a list of future tourism investment projects:
- Cenote Mukul will invest US$25 million in a sustainability project consisting of Villas (destination wellness camping sites in the cenote) that will create 1,780 direct and indirect jobs.
- Fincas Los Alamos will create the first residential development of 65 homes in the east of the state, integrating amenities and security with high quality handcrafted finishes. Valued at US$13 million.
- Torre Zayanna, a 111-unit apartment complex in Valladolid, will have an investment of US$9 million and create 300 jobs.
- For more information on projects click here.