UPDATE 1-Mexico seeks private sector infrastructure investment as oil slump bites

March 13, 2015

03/12/15 Reuters 

Road - highway interchangeMexico’s government on Thursday urged the private sector to take a bigger role in billions of dollars worth of planned public works and the opening of the country’s energy sector, weeks after scaling back its own planned spending due to slumping oil prices. Finance Minister Luis Videgaray said he expected low crude prices to continue into next year, a development which has already dealt a major blow to a country that has long relied on oil revenues to fund around a third of the federal budget. The government last year said it planned to raise 7.7 trillion pesos ($498.74 billion) in infrastructure investment through 2018, but in late January cut its 2015 budget by nearly 3 percent and shelved a tainted $3.75 billion high-speed train tender as part of its austerity measures.

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$100 Mn Allocated to Poor Municipalities in Southern Mexico

January 20, 2015

Fox News Latino, 1/19/2015

currency - coinsThe Mexican government allocated 1.5 billion pesos (about $102.5 million) to support marginal municipalities in the poor southern states of Chiapas, Guerrero and Oaxaca, the Finance and Public Credit Secretariat announced Monday.

In all, some 508 municipalities will benefit under the plan, the deadline for requesting funds from which is March 15, the institution said in a communique.

The terms and requirements to gain access to the resources contained in the Infrastructure and Productivity Support Fund, or FAIP, will be published by the secretariat in the country’s Official Gazette in the coming days.

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Mexico Open to Airport Expansion as $5 Billion Cost Seen

December 11, 2013

Bloomberg, 12/11/2013

airplane on runwayPresident Enrique Pena Nieto may expand the congested Mexico City airport, the busiest in Latin America, on government-owned land east of the capital, his top transportation official said.

Construction could begin as soon as 2014, Communications and Transportation Minister Gerardo Ruiz Esparza told reporters yesterday in Mexico City. Investment in Benito Juarez International Airport would amount to about $5 billion, according to an estimate by Luis Zarate, head of a trade group for builders.

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Mexico Housing Hits U.S. Investors as Plan Collapses

December 6, 2013

Bloomberg, 12/6/2013

Photo by Flikr user LyfetimeThree years into her home-ownership dream, Martha Orozco has had enough. Stuck in a government-sponsored complex called Parque San Mateo that’s two hours away from her $8,000-a-year job as a hospital secretary in Mexico City, Orozco sees only broken promises and blight all around her.

The program has been a disaster. Hundreds of thousands of homes are now derelict after buyers such as Orozco concluded they were located too far from city centers and moved out. Developers, their profits assured by government guarantees, built houses faster than municipalities could connect them to water systems and power grids.

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Mexico to tender $7.4 billion in passenger train projects in 2014

October 9, 2013

Reuters, 10/8/2013

Train Tracks by HeraldicosMexico’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.

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Mexico’s treasures

July 22, 2013

Photo by Flickr user Angelica RiveraFinancial 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.

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Infrastructure, Drug Lords and Reform Proposals in Mexico – Weekly News Summary: July 19

July 19, 2013

Coffee by Flikr user samrevelThe 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 MoralesZ40 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.

 

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