Report: Mexico to tender $50bn of infra in 2010

Senior Mexican government officials were in Madrid yesterday wooing Spanish firms and investors for the $50bn in infrastructure the authorities plan to tender this year. The standouts are a new airport in the Mayan Riviera and a multi-hundred million dollar highway package in the state of Jalisco.

Mexico intends to tender some 100 projects in 2010 worth about $50 billion and wants Spanish firms and investors to help fund them.

That was the main message coming out of the Mexican Infrastructure Conference held yesterday in Madrid, reports Spanish newspaper Cinco Dias. The event was organised by Mexican infrastructure bank BANOBRAS with the intention of rekindling foreign investment in the country, which declined by close to 51 percent last year to just over $11 billion.

The meeting was attended by several senior Mexican government officials, including the head of Mexico’s transport ministry (SCT), the head of BANOBRAS, and the president of Mexico’s bank association (AMB). Some 22 representatives from several Spanish industry players attended the event.

One of the standout projects discussed at yesterday’s conference was the construction of a new airport in the Mayan Riviera, to be located some 100 kilometres south of Cancun and worth about $240 million. Another highlight is a highways package in the state of Jalisco, in the east of Mexico, worth $650 million. BANOBRAS also mentions on its website a 235-kilometre road to the south of Mexico City and two power plants with a combined generation capacity of 1,170 megawatts, among others.

Ignacio Deschamps, the president of AMB, told participants that local financing is available for these projects at competitive rates. He added that public-private partnerships were well established in Mexico and local banks will have no problems funding them. The Mexican economy is estimated to grow by four percent this year, Cinco Dias reports.