December 2, 2014
China plans to tender again for Mexico’s $3.75 billion high-speed rail project after the Latin American nation abruptly canceled its earlier win, one of the firms in a Chinese-led consortium that had bid and a source close to the bid said. Mexico revoked the contract awarded to the consortium made up of China Railway Construction Corp, CSR Corp and four other Mexican firms on Nov. 7 after opposition lawmakers claimed it was fixed. The consortium’s bid was uncontested..
November 12, 2014
10/10/14 Wall Street Journal
Revelations that a mansion used by President Enrique Peña Nieto ’s family was held by a Mexican company whose owner has won big government contracts reverberated from Mexico to China on Monday. Social networks exploded with photos of the first family’s residence, valued at $7 million, as a video about the president’s family home was seen more than 1 million times on YouTube. The president’s office defended the home by saying it wasn’t the president’s property, but rather the first lady’s, who was paying the home in installments. It declined to give more information. But the president’s opponents—including student groups and leftist politicians—called for his resignation and new elections on Twitter using the trending hashtag #Articulo39RenunciaEPN.
November 5, 2014
11/04/14 The Diplomat
The government of Mexico announced that it has chosen China Railway Corp to build a high-speed rail line connecting the capital of Mexico City with Queretaro, a manufacturing city 210 km to the north. The project is slated to start in December and the line is expected to begin operation in 2017, according to Mexican government officials, at a cost of $3.75 billion. As the competition heats up to win high-speed rail contracts abroad, China has struck first, winning the first such bid in Latin America. The question is how China managed to win, and what that means for competitors like Japan and Germany.
November 4, 2014
China Railway Construction Corp. (601186) led a group that won a bid to build a $4.3 billion high-speed train line in central Mexico, marking the first large investment in transportation by a Chinese firm in the nation. The Beijing-based company said it will turn to the Export-Import Bank of China to help finance its $2.9 billion portion of the contract. The train will initially shuttle 27,000 passengers a day between the capital and the industrial hub of Queretaro City in 58 minutes, Mexico’s government said yesterday.
November 4, 2014
11/03/14 Financial Times
Mexico, which battles for manufacturing competitiveness against China, is getting its first high-speed rail network – to be built and run by a Chinese-led consortium. The more than $3.6bn contract for the new 210km line, to run from Mexico City to the manufacturing and aerospace hub of Querétaro, was awarded to a consortium led by China Railway Construction Corporation, CSR Corporation Ltd and including the Mexican companies Prodemex, Constructora y Edificadora GIA, Constructora Teya and GHP Infraestructura Mexicana. The Chinese-led group was the only consortium to present a bid after other international companies including Bombardier of Canada and Germany’s Siemens and France’s Alstom said they did not have enough time to prepare their offers.
September 11, 2014
The nations of the BRICS group continue to extend the hand of economic collaboration around the world; here we highlight a couple of developments over the weekend from China and India. Chinese construction, rail, and related companies are investing in key projects in what is being called Mexico’s Economic Corridor of the North, involving the states of Nayarit on the Pacific coast and Chihuahua which borders the U.S.
August 18, 2014
08/18/14 Forbes. By Deanna Cioppa
As the cost of outsourcing manufacturing to China levels out with the United States, companies are looking for new places to set up shop—locations with competitive labor costs, optimal transport options and an open trading environment—and finding them much closer to home in sunny Mexico. There’s a lot that’s attractive about America’s neighbor to the south that may drive American manufacturing from China to just next door: A stable economy protected by government policy, a robust telecomm infrastructure and abundant natural resources. Regulation and macro-economics aside, part of what’s attracting foreign trading to Mexico is a combination of where it is, who lives there and who they trade with.