Reuters – Asset manager BlackRock and U.S. private equity firm First Reserve have taken a joint stake worth around $900 million in the second phase of Mexico pipeline project Los Ramones. The pipeline will eventually run from the U.S.-Mexico border to central Mexico.
Sentido Comun – President Enrique Peña Nieto opened the Tlaxcala bypass, a 12 kilometer, four-lane project that required an investment of 967 million pesos ($64 million).
Reuters – BlackRock Inc, the world’s largest asset manager, is looking to invest in infrastructure projects in Mexico, according to sources familiar with the situation.
Reuters – Mexican bank Grupo Financiero Banorte expects to set up a $3 billion infrastructure fund in the next few months with a North American partner, CEO Jose Marcos Ramirez said. He declined to say who the North American partner would be.
Reuters – Pemex said on Friday that it had contained a fire at its Miguel Hidalgo refinery and that the facility was back to normal operations. No workers were injured, and the facility near the city of Tula sustained only minor damages, the company said.
Sentido Comun – Spanish infrastructure constructions company Ferrovial is said to be interested in participating in the tender to build the new international airport in Mexico City.
El Dario -The close relationship between Coahuila Gov. Ruben Moreira Valdez and President Enrique Peña Nieto has enabled significant investments in the state, all geared at competitiveness.
CNNMéxico – Line 12 of the Mexico City Metro “failed,” according to an audit by the Superior Audit Office. The opinion is the start of a process to bring sanctions against officials responsible for the failures.
Sentido Comun – Mexico gave the government of Jalisco the concession for the Guadalajara-Tequila-Magdalena railway so state authorities can better promote tourism development in the region.
Bloomberg – Fermaca Enterprises plans to be the first Mexican company to build a pipeline in the United States to bring cheap natural gas from Texas to south of the border to satisfy the growing appetite for fuel.
Sentido Comun – Hutchinson Port Holdings (HPH) announced it will invest $50 million over the next five years in its subsidiary Gulf Naval Workshops or TNG, to convert the naval complex at the port of Veracruz into the most modern and best equipped in the Gulf of Mexico.
The Economic Times – Mexico plans to resume iron ore exports from the port of Lazaro Cardenas in western Mexico, where the Knights Templar drug cartel allegedly had been illegally shipping the ore to China.
Informador – The Secretariat of Communications and Transportation (SCT) reported that the China Railway Construction Corporation (CRCC) applied for compensation from the failed fast-rail tender, though late, met the deadline.
Milenio – To contribute to a more transparent bidding process for the New International Airport of Mexico City (NAICM), the Federal Competition Commission (Cofece) asked airport authorities to review all tenders.
By Carlos Tejada / Wall Street Journal
A Chinese rail-construction company is seeking compensation from Mexican officials stemming from a halted $3.7 billion Mexican high-speed-rail project.
In a statement Tuesday to the Shanghai stock exchange, China Railway Construction Corp. said it was still in negotiations with “the Mexican side and will update if there is important progress.” It didn’t offer further details but said the postponement won’t have a major effect on its operations.
In November, CRCC warned it would resort to legal means to protect its interests after the contract was revoked.
The halt on construction of the roughly 130-mile bullet-train line, from Mexico City northwest to Querétaro city, has become a sore point in China. On Monday, China’s National Development and Reform Commission, the country’s top economic-planning body, called on Mexican officials to protect the rights of Chinese companies.
“We feel really sorry about the decision,” the NDRC said. “Chinese companies have invested much in bidding for the project.”
Officials at the Mexican embassy in Beijing didn’t immediately respond to requests for comment.
Mexico postponed the project last week as part of an effort to cut government spending by $8.3 billion amid an adverse economic environment and falling oil prices, as Mexico is a significant oil producer.
AP – When the U.S. government backed construction of a new hydroelectric plant in southwestern Mexico, residents rose up and defeated a three-year, $30 million project supported by the little-known Overseas Private Investment Corp.
The fight opened a window into the impacts that residents sometimes encounter in developments backed by OPIC, a U.S. government agency with a low profile but global mission.
El Economista – The Secretariat of Communications and Transportation (SCT) postponed the publication of the new call for tender for the development of high speed train (TGV) Mexico-Queretaro (scheduled for today), to have more time to analyze comments that have been received from companies interested in the pre bases and “strengthen” the process.
Sentido Comun – Airport Group of Mexico City, the state company that currently manages the Mexico City airport, won the contract to take charge of the new terminal that is due to be built on land near the existing airport.
Reuters – Mexico’s government said it would heed most of the recommendations from the country’s antitrust watchdog which had warned some aspects of a new tender to build a high-speed train system.
Milenio – The tender for the high-speed Mexico-Queretaro train will be a success if wo to three companies enter the bidding said Secretary of Communications and Transport, Gerardo Ruiz Esparza. He said few companies have the technology to build high-speed trains.