The Week in Infrastructure: Capital Injection ContinuesBy Alessa Flores | Mon, 12/09/2019 - 13:01
On Nov. 26, President Andrés Manuel López Obrador announced the National Infrastructure Plan where he highlighted an investment of MX$859 billion (US$44.4 billion) to be allocated in 147 projects over three years. Forty-five of these will be located in Central Mexico, 49 in the north and 42 in the south. They will also cover a wide range of sectors from transport and telecommunications, to health and tourism.
The private sector through CCE, the Mexican Bank Association (ABM) and Alfonso Romo, Head of the President’s Office, have served as a link between the private and the public sector to support the infrastructure industry and build investors’ confidence. Among the banks that seek to support the development of infrastructure in the country is Santander that has a bag of MX$100 billion (US$5.2 billion) to support the Infrastructure Plan.
Despite everyone wanting a happy ending for infrastructure investment in the country, Luis Niño de Rivera, President of ABM, stressed that the speed and success with which progress is made will depend on the ability of different banks to finance projects.
Now, let’s jump into the Week in Infrastructure!
- The Minister of Communications and Public Works (SCOP) of the State of Chihuahua, Gustavo Elizondo Aguilar, is targeting an investment of MX$1.2 billion (US$62.1 million) for FY20. The minister said this figure reflects an 18 percent increase compared to 2019.
- The National Tourism Promotion Fund (FONATUR) announced that it will spend more than MX$916 million (US$47.4 million) to acquire and condition 392 kilometers of railway right between Palenque, Chiapas and the Campeche urban area in orderly construction of the Mayan Train.
- This Friday, López Obrador, will tour the Quesqui oil field, as well as the pier of the Dos Bocas Supply Terminal. More than US$8 billion will be invested in the construction of a new refinery to take advantage of national oil resources through crude oil processing.
- Peruvian Minister of Foreign Affairs, Gustavo Meza-Cuadra, stressed the importance of the National Competitiveness Infrastructure Plan (PNIC) to upgrade Peru's infrastructure to promote more stable and balanced economic growth. The investment is projected to reach US$30 billion.