Asia

Mexico delays decision for section of 'Mayan Train' project eyed by BlackRock

MEXICO CITY (Reuters) – Mexico on Monday said it had “deferred” issuing a decision over a tender for a section of the “Mayan Train” rail project, a major government infrastructure initiative in which a consortium that includes BlackRock (BLK.N) was the sole bidder.

The 1,470-km (910-mile) project is designed to link tourist hot spots and spur development on the Yucatan Peninsula. The cost of the project, championed by President Andres Manuel Lopez Obrador, is estimated at about $7 billion.

Mexico’s National Fund for Tourism Promotion (Fonatur) said in a statement that the delay was done “in order to deepen analysis of the economic proposal presented”.

The Greenfield SPV VIII proposal, a consortium with BlackRock Mexico Infraestructura II and other companies, was the only bidder for the 121-km (75-mile) “section 5” that runs from Cancun to Tulum in Quintana Roo state.

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