Slim’s GSM-Bronco Wins Bid for Contract with PEMEX

Carlos Slim’s very own conglomerate Grupo Carso, through subsidiaries, obtained a US$196 million PEMEX contract for infrastructure operations. This contract adds to Slim’s increasing relationship with the federal government.  

The Mexico-based conglomerate announced that its subsidiaries GSM-Bronco won the state-owned PEMEX’ bidding for a “turnkey work to drill and complete development wells for onshore PEP fields.”. The bid was carried out last August 22 through an announcement delivered to the Mexican Stock Exchange (BMV). Grupo Carso also reported that the operations are set to begin upon signing the final contract, and that the estimated timeframe for the deal is between September 2021 and December 2023.

“Grupo Carso informs investors that as a result of the offer presented on August 22 by its subsidiaries GSM-Bronco, S.A. de C.V. [...] on September 7, Petróleos Mexicanos (PEMEX) reported that the result was favorable to us, for a minimum amount of US$196 million, 50 thousand,” reads the company statement.

Slim is noted for having a good relationship with President López Obrador. His companies are involved in the construction of megaproject Maya Train, one of the star projects of AMLO’s administration alongside Dos Bocas refinery, the former of which is expected to increase Mexico’s self-sufficiency in terms of energetic resources, with a capacity of 340,000 thousand barrels per day. This is not Carso’s first contract with PEMEX under the present administration. In 2019, CICSA, alongside Permaducto, won another bidding for the engineering, procurement and construction of marine infrastructure.

Slim will also assume costs and be in charge of rehabilitation efforts of Mexico City’s Subway Line 12. The structure, which collapsed on May 3 and left 26 dead, will be restored in approximately 12 months, as Slim himself announced, and no public money would be used in order to streamline the reconstruction efforts.

President López Obrador congratulated his initiative and stated he hopes that his conduct serves as an “example” to others in regards to taking responsibility in the name of common good. Slim’s CICSA, the company who originally built the line, said “the best calculation engineers were involved in the construction.”