October 9, 2013
Mexico’s government will tender three passenger train projects next year worth 97 billion pesos ($7.4 billion), two of which will service the capital’s sprawling metropolitan area, the country’s transport ministry said on Tuesday. Project details will be published ahead of the contract tender in early 2014, the ministry said in a statement. The new trains will connect the country’s capital with the cities of Toluca and Queretaro, in addition to a train traversing tourist destinations along Mexico’s southern Yucatan peninsula.
July 22, 2013
Financial Times, 7/22/2013
Enrique Peña Nieto is on a roll. In a single week Mexico’s president has boosted his credentials on domestic security with the arrest of the country’s most notorious drug lord and on the economy with a six-year 4tn peso ($316bn) infrastructure investment plan.
The arrest of Miguel Ángel Treviño Morales, brutal boss of the Zeta gang, is an unqualified victory in the war on Mexico’s mounting violence. The wins from Mexico’s infrastructure investment will take rather longer to materialise. But if fully implemented, the programme should help accelerate Mexico’s growth.
July 19, 2013
The Mexico Institute’s “Weekly News Summary,” released every Friday afternoon summarizes the week’s most prominent Mexico headlines published in the English-language press, as well as the most engaging opinion pieces by Mexican columnists.
What the English-language press had to say…
This week’s most important headline was the capture of Miguel Angel Treviño Morales –Z40 head of Zetas Cartel and one of Mexico’s most brutal drug lords. The capture of Mr. Treviño is the first arrest of a top cartel leader since Mr. Peña Nieto took office. During the capture, a navy helicopter intercepted the truck which Mr. Treviño was riding. The capture may have remarkably weaken Zetas, a cartel Mr Treviño Morales is believed to have controlled for about eight years, however, other Mexican cartels such as the Sinaloa and Caballeros Templarios remain powerful.
Read the rest of this entry »
July 16, 2013
Financial Times, 7/16/2013
It’s the big bazooka that many have been waiting for. With Mexico’s economy posting a lacklustre start to the year, economists have been counting on a pick-up in government spending to help pick up the slack. And open its wallet the government did. On Monday, President Enrique Peña Nieto unveiled a long-awaited 1.3tn peso ($102bn) investment plan to upgrade the country’s transportation and telecommunications infrastructures.
Including investments from the private sector, total infrastructure spending could hit 4tn pesos ($314.2bn) between now and 2018, said Peña Nieto. That would represent nearly a third of Mexico’s annual gross domestic product.
April 26, 2010
USA Today, 4/26/2010
Farms in the thickly forested area here are a major source of marijuana and opium cultivation and the cartels that control the drug trade use gruesome violence to settle scores. The people who live here have few choices for work given that no highways and the commerce they bring have penetrated the Sierra Madre.
But the Devil’s Backbone is undergoing surgery. The Mexican government has launched a massive road construction project to straighten and modernize the road, an engineering feat that will require 63 tunnels and 32 bridges, including the world’s second-highest road bridge.
The new highway will provide easy access to and from the Pacific Coast, its ports and tourist destinations, cutting the drive time from 8 hours to 2½ hours. Mexican authorities say the faster ride will open up industrial cities to the region, maybe even persuade carmakers and other companies that pay good wages to supplant the drug trade.
January 8, 2009
Wilson Center Expert Sources, 1/8/2009
Mexican President Felipe Calderon outlined his plan to revive his nation’s economy Wednesday, hoping to bolster it against a slide caused by the U.S. credit crisis. The most crucial parts of the plan include infrastructure development as well as measures for utilities and the private sector, said Andrew Selee, director of the Mexico Institute at the Woodrow Wilson Center.
“Mexico’s economic stimulus plan couldn’t come at a better time,” Selee said. “The $42 billion for infrastructure is probably the most important part of the plan, but the support for unemployed workers, a freeze in electricity and gas prices, and aid to struggling companies will be important as well.”
Selee also sees this as a chance for Mexico and the United States to help each other develop the border region between them. “Let’s hope that the Obama and Calderon administrations keep in close contact on their stimulus plans,” Selee said. “There is a real opportunity here for the two governments to use a small part of the stimulus packages in both countries to develop the border region, which has significant deficits in infrastructure and employment.”
“This could stimulate the economies of border communities in both countries while making them more safe and secure. But that requires dialogue and creative thinking.”
Reporters may reach Andrew Selee at 202-691-4399 or by email at firstname.lastname@example.org.
January 8, 2009
BBC News, 1/8/2009
The Mexican government has unveiled emergency measures to protect its economy from the global financial crisis and US recession. President Felipe Calderon said Mexico was facing a period of great difficulty and rising unemployment. He promised nearly $150m to struggling industries in a bid to save hundreds of thousands of jobs.
The measure is part of a 25-point plan that includes freezing petrol prices and increasing unemployment benefits. He said the measures being taken would protect half a million jobs, mostly in export industries that depend heavily on the US market. A further 250,000 jobs will be created by the bringing forward of several planned infrastructure projects such as road repairs and restoration of historic sites.
December 5, 2008
Mexico Economy Minister Gerardo Ruiz Mateos said the government will accelerate infrastructure projects in a bid to allay job losses caused by a global economic slump that has reduced demand for exports.
The government will spend $12.5 billion on roads, ports, railroads and other projects in the first quarter of next year after delays on infrastructure outlays in 2008, Ruiz Mateos, 43, said today in an interview with Bloomberg Television. Officials are also studying new programs to prevent layoffs in the manufacturing industry and to create temporary jobs, he said.
November 21, 2008
La Jornada, 11/21/2008
Finance Minister Agustín Carstens announced that in 2009 public investment in infrastructure will reach an unprecedented 5% of gross domestic product (GDP). He indicated that 50 billon pesos would be spent on infrastructure projects in highways and railroads and 33 billion pesos on hydraulic projects.