Chinese group gets Mexico rail contract
A Chinese-led consortium has been awarded an uncontested contract for a $3.74 billion high-speed passenger rail link between Mexico City and the central city of Queretaro..
The group led by China Railway Construction Corp Ltd was the only bidder for the 210-km (130-mile) line. Mexico wants the rail line to move 27,000 passengers daily from Queretaro at speeds of up to 300 km/h (186 mph).
Under President Enrique Pena Nieto, Mexico has sought to forge closer business ties with China, while the world’s No 2 economy has been looking to export more of its high-speed rail technology.
The Export-Import Bank of China ( EximBank) will finance 85 percent of the project’s cost, according to a Mexican transport ministry spokesman. (Photo 3)