BY RODRIGO CAMPOS
Reuters
thenews.com.mx
NEW YORK – Mexico and China are discussing creating a joint fund for investments in infrastructure projects in Latin America’s No. 2 economy, Finance Undersecretary Fernando Aportela said on Tuesday during a visit to New York.
President Enrique Peña Nieto last year announced his government expected to see more than $300 billion in public and private spending on infrastructure in Mexico between 2013 and 2018, around a third of it in telecoms and transport.
The forecast spending was aimed at complementing a wider economic reform drive spanning energy to telecoms that Peña Nieto pushed through Congress last year and which is aimed at boosting long-lagging economic growth.
The Mexican newspaper Excelsior said on Tuesday Mexico and China were negotiating creating a $2.5 billion fund for infrastructure spending, but gave no sourcing.
Aportela told Reuters the size of the fund was still being negotiated.
Beyond investments by state-run energy and water companies, Peña Nieto’s infrastructure drive unveiled in July included putting two new satellites into orbit, tendering two new national television networks and building 15 new highways.
A broad range of Mexican companies will likely benefit.
Billionaire Carlos Slim’s Grupo Carso, miner Grupo México, cement giant Cemex, chemical producer Mexichem and airport operators Gap, OMA and Asur are all potential winners.
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