Friday, November 07, 2014

Mexican Bullet Train - Update

[Update Friday 7 November 2014 0344 EST]
Mexico has revoked a contract for a multibillion-dollar, high-speed passenger rail link from a Chinese-led consortium after its uncontested bid sparked complaints, souring a state visit to China next week by President Enrique Peña Nieto.
So, the contract was signed and revoked in less than a week.

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Mexican Bullet Train
[Previous 11/6/14 post]

(Mexico City)
Mexico's government keen to forge closer ties to Beijing picked a Chinese-led consortium to build the first bullet train in Latin America after the group was the only bidder.

The transport ministry said it had accepted the US$3.75 billion (HK$29.25 billion) proposal by China Railway Construction Corp for the 210-kilometer railway between the capital Mexico City and the manufacturing hub of Queretaro.

The project is part of President Enrique Pena Nieto's decision to bring back passenger trains to Latin America's second-biggest economy.

The government expects construction to start in December and the first high-speed railway to Latin America to be operational in 2017.

1 comment:

Doom said...

I wonder if they crunched the numbers and realized the overruns would be... excessive. More so as corrupt as the Mexican government knows itself to be. Pretty impressive for a socialist state to actually reject a typical "business" deal.

Too impressive. Sounds more like China didn't come across with what Mexico was actually requesting, if I was to be honest. Quid quo pro only works when the dirty deals are equitable.


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