Mexico voids BlackRock consortium’s bid for ‘Mayan Train’ project By Reuters

© Reuters. FILE PHOTO: A sign for BlackRock Inc hangs above its building in New York

MEXICO CITY (Reuters) – Mexico declared void a tender process, where a consortium that includes U.S. investment group BlackRock Inc (N:) was the sole bidder, to build a section of one of the government’s flagship infrastructure projects, the so-called “Mayan Train”.

The 1,470-km (910-mile) train project is designed to link tourist hot spots and spur development on the Yucatan Peninsula at an estimated cost of $7 billion.

Deemed essential infrastructure by the government, the rail project is a top priority of President Andres Manuel Lopez Obrador, who hopes it will be a major generator of jobs in the country’s poorer south.

Mexico’s National Fund for Tourism Promotion (Fonatur) initially planned to announce the decision on Aug. 31, but said it needed more time to analyze the proposal from BlackRock and its partners.

BlackRock did not respond outside of U.S. office hours.

The Greenfield SPV VIII proposal, a consortium with BlackRock Mexico Infraestructura II and other companies, was the only bidder for the 121-km (75-mile) “section 5” that runs from Cancun to Tulum in Quintana Roo state.

Fonatur said in a statement late Tuesday that the bid’s economic proposal was “not solvent” and that it would open another bidding process for “section 5” under a different scheme that has yet to be determined.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Source link

Show More

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button