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Mexico again suspends multibillion dollar high-speed rail project at center of political scandal

(Source: Forbes, February 10, 2015)

NEW YORK — The Mexican government postponed again, this time indefinitely, a controversial $3.7 billion dollar high-speed train project. Finance Minister Luis Videgaray made the announcement at the end of January claiming lack of funding. Mexican President Enrique Peña Nieto confirmed that the train was the victim of budget cuts. On Monday, the Ministry of Communications said the Mexican government will compensate the Chinese-led consortium that was awarded the first contract in 2014

Full story: Forbes

Wednesday, February 11, 2015

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