Water Projects to Be Included in Third Infrastructure PackageBy Fernando Mares | Fri, 07/01/2022 - 14:16
Fifteen highway and water infrastructure projects are to be presented to President López Obrador by the Business Coordinating Council (CEE), with the aim to either include them in the third infrastructure package or to make them part of a further infrastructure plan.
In an event to recognize participants of the Youth Building the Future program, Francisco Cervantes, President, CEE said he would present the projects to López Obrador. Nonetheless, he said it is unclear whether the projects would be included in the soon-to-be launched third infrastructure package or if they will be part of a different economic reactivation strategy. Cervantes said he has been negotiating hurriedly with the federal government to develop such a strategy. Cervantes did not provide further details regarding the type of projects, their location or the required investment.
According to Cervantes, federal authorities are evaluating the projects. He added that the third infrastructure package’s unveiling has been delayed, so he will urge the president to reveal it. “I will meet with the president tomorrow at the Dos Bocas Refinery, and I will ask him [about the infrastructure package] in order to launch it… business organizations were invited by the government to the Dos Bocas refinery’s inauguration, the largest infrastructure project of López Obrador administration,” Cervantes added.
In January 2022, president López Obrador said that Minister of Finance, Rogelio Ramírez de la O would unveil the package later that month. Nevertheless, to date no further details have been revealed. According to industry leaders, the third infrastructure package consists of 44 public-private projects featuring an estimated investment of US$15.4 billion. The projects will be focused on the southeastern region of the country since it is the lesser developed region of Mexico.
As with the previous infrastructure packages, technical, financial and environmental assessments are required for each project. If obstacles appear, Mexico’s public bodies will coordinate to solve them and develop risk mitigation strategies.
Mexico’s infrastructure packages have been subject to criticism due to the little progress in most of the projects. According to Fernando Solares, President, CMIC, López Obrador is prioritizing its own key projects, like the Mayan Train and dos Bocas Refinery, benefitting only major developers while shoving SMEs aside.