Quintana Roo Slated For Major Infrastructure InvestmentThu, 12/17/2020 - 15:47
Quintana Roo Governor Carlos Joaquín González sent a request this week to his state’s Congress for over US$41 million in debt to be accepted in the budget to invest in social infrastructure for rural communities, reports El Economista. The money will also be distributed among urban remodeling initiatives in major tourist centers within the state, such as Cozumel and Isla Mujeres. While the governor claimed that this is part of a recovery package in response to the impact of COVID-19, the announcement coincided with a report from Milenio in which Caxxor Group CEO Carlos Ortíz claimed that Quintana Roo represented an important part of the company’s plans to invest over US$600 million in infrastructure projects in Mexico’s southeastern states. This is part of what is referred to as the “Southern Border USMCA Corridor.” You can read our latest interview with Ortiz here, watch a video of his participation in the Mexico Oil & Gas Summit 2020 Panel titled “Project Execution and Supply Chain Resilience” here or read our summary here.
Meanwhile, the need for support that Quintana Roo’s marine infrastructure desperately needs was laid bare this week when the crew of the ferry that transports passengers between Cancun and Isla Mujeres shut down all operations until all pending payments were made, reports La Jornada.
Ready for more? Here’s the Week in Infrastructure!
CONAVI and COMEX Join Forces to Support Housing Initiative
All housing programs organized by CONAVI will now receive support from COMEX, reports El Economista. Support will be distributed in the form of paint and other construction materials offered at accessible prices for all people currently building, remodeling or refurbishing social housing under the umbrella of CONAVI programs. This includes 190,000 housing interventions to take place over the coming year.
Banxico Reform Postponed
The Chamber of Deputies postponed discussions and a vote on the proposed Bank of Mexico (Banxico) reform until 2021. Last week, Mexico’s Senate passed a draft law that would force Banxico to buy foreign cash that commercial banks cannot return to its country of origin. According to experts, this would destabilize the Mexican economy and increase the bank’s risk of being used to launder money. During yesterday’s daily morning press conference, President López Obrador applauded the Chamber’s decision and said this reform needs more points of view, especially from the population. “During this time, the population will be informed about the reform. This reform must be analyzed objectively, without dogmatisms,” he said. The president called on Banxico to help develop and increase the welfare of the country.
Santa Lucia Airport Like Chinese Infrastructure: AMLO
President López Obrador said that a project like the Santa Lucia airport could only be found in countries like China. "It is one of the most important works in the world, above all, due to the quality and speed at which it is being built,” he said. The president also mentioned that the plan is going well and that the workers are doing their job day and night.
Rail Cargo Lines Blocked for 194 Days of the Year
As of Dec. 11, 194 days of 2020 have seen some form of community blockades of railways, says the Mexican Railroads Association (AMF). The states most affected were Chihuahua, Sonora and Michoacan. According to AMF President Óscar del Cueto, these 194 days represent a dramatic increase when compared to previous years. In 2017, there were only 32 days of blockades. In 2018, there were 56 days and 64 days in 2019. Del Cueto commented that AMF wants to coordinate a more agile response mechanism with local, state and federal authorities to terminate these blockades as soon as possible. The association’s research shows that if a blockade is not broken within the first four hours of its enactment, it is likely to last for much longer. One of the longest blockades of the year was a 59-day long protest that ended on Nov. 30. The blockade was organized by teacher’s union CNTE members in the state of Michoacan. Their demands included the compensation of late payments and job availability. Another 60-day long blockade in Chihuahua ended on Oct. 26. The economic impact these blockades have caused is considered incalculable.