USMCA Corridor Marches ForwardBy MBN Staff | Thu, 10/29/2020 - 15:39
The Week in Infrastructure presents developments regarding the new USMCA Corridor. Also, Banobras published its three-year development plant and the Supreme Court rolled back SENER’s energy policy. Moreover, Siemens, Nissan, BMV and Google will make important investments in Mexico. Lastly, experts discussed the infrastructure needs of Mexico’s hydrocarbons sector during the Mexico Oil & Gas Summit 2020.
This and more in your weekly infrastructure roundup!
The Caxxor Group, an institutional fund, announced a US$3.3 billion investment to develop a logistics center that will connect Winnipeg, Canada with the Port of Mazatlan, Mexico, to activate what will be known as the USMCA Corridor.
The infrastructure sector in Mexico will partner with investment banking in world-class projects such as the USMCA Vorridor. “In Mexico and Latin America, the role of investment banking specialized in infrastructure has not matured. Infrastructure was mainly the government’s responsibility. Now, we are importing the best models from international markets," said Carlos Ortiz Todd, CEO of Caxxor Group, to Dinero Negocios y Finanzas.
The graph that represents the recovery of Mexico’s infrastructure sector has adopted an L shape, reflecting a very slow reactivation. It is still uncertain whether the government’s recently published infrastructure plan will contribute significantly to the sector's reactivation.
Banobras’ institutional program for 2021-2024 was published on the Federation’s Official Gazette. Its objectives are to promote greater credit access for federal and municipal entities, to increase funding for infrastructure projects and to promote loans from commercial banks and private actors.
Mexico’s Supreme Court unanimously voted to suspend SENER’s Policy on Reliability, Safety, Continuity and Quality for the National Electrical System. The policy was published on May 15 by Minister of Energy Rocío Nahle and its objective was to limit private renewable electricity production and prohibit testing of clean energy power plants.
Mexico City’s government reported that Line 1 of the new Cablebús mobility project, from Indios Verdes to Cuautepec, has an 82 percent progress. Meanwhile, Line 2, from Constitucion 1917 to Santa Marta, has an 81 percent advance.
“Upstream Infrastructure, Maintenance and Safety” was the second panel of Mexico Oil and Gas Summit 2020, moderated by Alejandra León, Director for Latin America Upstream at IHS Markit. León’s introductory words focused on how various approaches to safety have changed drastically in 2020 and the ways in which both private and public institutions have responded to these disruptions.
The ChargeNow alliance, formed by Nissan Mexicana, BMW Group Mexico and CFE, connect electric and hybrid vehicle charging systems to the Google Maps platform. Drivers will be able to find the locations of both companies' charging stations through their mobile devices.
Siemens announced an investment of MX$300 million for its operations in Mexico, of which MX$100 million will be destined to R&D to boost the competitiveness of the products they manufacture at its plants in Monterrey, Queretaro and Guadalajara.