On October 05, 2020 Mexican President, Andrés Manuel López Obrador, announced an investment plan to reactivate Mexican Economy which includes the development of major infrastructure projects in areas such as (i) energy; (ii) communications and transportation; and (iii) water (the “Investment Plan”).
The Investment Plan includes thirty-nine (39) infrastructure projects expected to be developed in the coming years with investments of MXN $297.00 billion pesos, equivalent to approximately USD $14.14 billion.
Federal Government estimates that these projects will create between 180,000 and 190,000 new jobs and their investments will represent 1% of the gross domestic product.
Among the projects included in the Investment Plan are: (i) strategic alliances with the State-Owned Productive companies known as PEMEX and CFE for the development of different projects; (ii) construction and extension of highways; (iii) construction of infrastructure in Cozumel for the arrival of cruises; (iv) construction of the Mexico City – Queretaro train; (v) extension and modernization of Progreso port; (vi) construction of an ethanol terminal in Veracruz; (vii) construction of a fertilizer plant in Camargo, Chihuahua; (viii) construction of a liquefaction unit in Salina Cruz, Oaxaca.
With this strategy, Federal Government intends to reactivate Mexican economy hand to hand with the private sector.
The lawyers of the energy and infrastructure are at the firm are available for any question or comments on the above.
Juan Carlos Serra
serra@basham.com.mx
Jorge Eduardo Escobedo Montaño
jescobedo@basham.com.mx
Miguel Figueroa Morgado
mfigueroa@basham.com.mx
Mexico City, October 7th, 2020.
