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Grupo Mexico speeds up railway investment

Karla Salinas | 09.12.2013

Grupo Mexico will invest US$2.8 billion in railway infrastructure in the next 5 years through its subsidiaries Ferromex and Ferrosur, according to Lorenzo Reyes, Chief Operations Officer for both companies.

Grupo Mexico will invest US$2.8 billion in railway infrastructure in the next 5 years through its subsidiaries Ferromex and Ferrosur, according to Lorenzo Reyes, Chief Operations Officer for both companies.

“With this we would invest 91% of what we have been channeling in the last 15 years, improvement in infrastructure and service will continue”, he added.

Mr. Reyes pointed-out that the main challenges of railway industry in Mexico are lack of safety, the development of new routes, and the release of right of way, among others. In addition, he spoke about the railroad’s importance to boost Mexico’s economy.

Ferromex and Ferrosur are considering the possibility of offering right of way to passenger trains, Mr. Reyes said.

Pablo Suarez, General Director for Railroad and Multimode Transportation with the Ministry of Communications and Transport, said that in passenger train projects, the companies that currently hold permits for cargo transportation may grant the right of way.

Source | Maquilaportal

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