SE Launches Tender for Six Interoceanic Corridor Poles
Mexico’s Ministry of Economy (SE) announced the tender for six projects in the Interoceanic Corridor in Veracruz and Oaxaca. The corridor aims to convert the Isthmus of Tehuantepec into a central hub for global trade and generate well-paid jobs in the south-southeast region of the country.
SE aims to close regional gaps with heavy infrastructure spending. Raquel Buenrostro, Minister of Economy, presented the tenders for six of the 10 development poles for the corridor to business chambers, company executives and potential investors, within the framework of the meeting “Towards the Bidding for the Development Poles of the Interoceanic Corridor of the Isthmus of Tehuantepec,” explains SE via a press release.
The corridor involves the construction of over 300km of train tracks, which will connect the Pacific Ocean with the Atlantic Ocean and the Mayan Train with Ciudad Hidalgo, Guatemala. The Mexican ports of Coatzacoalcos and Salina Cruz will be modernized and expanded through the installation of fiber optic, antennas, gas pipelines and security posts.
Buenrostro highlighted that the Isthmus of Tehuantepec has abundant natural resources that must be preserved and used sustainably. The region has water and green energy sources, such as hydroelectric and wind, which will prove vital for companies that aim to reach zero carbon emission goals. The south-southeast region can provide companies with a young and increasingly specialized labor force, explains SE.
In Veracruz, the areas being bidded for are: Coatzacoalcos I, which represents 257 hectares; Coatzacoalcos II, 131 hectares; Texistepec, 462 hectares; and San Juan Evangelista, 360 hectares. In Oaxaca, the bids are: Salina Cruz, 82 hectares, and San Blas Atempa, 331 hectares .
During the first six years, SHCP will provide tax incentives in the form of an accelerated depreciation tax. It will also provide Income Tax (ISR) exemptions for the first three years, with the possibility of extending it for three additional years with a reduction of up to 90%.
The poles will focus on the following industries: electrical and electronic, semiconductors, automotive, medical devices, pharmaceutical, agroindustry, electric power generation and distribution equipment, machinery and equipment, information technology and communication, metals and petrochemistry.
“With the development of the Interoceanic Corridor, Mexico is preparing to receive the supply chains that will arrive in the coming years due to the relocation phenomenon. In turn, companies will be able to reduce logistics times and costs,” says Buenrostro.