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Mexican Railroads will invest US$700 million

mexican-railroadsRailroads in Mexico will invest more than US$700 million this year, mainly to improve infrastructure and purchase equipment.

Rogelio Velez, CEO, Ferrocarril Mexicano (Ferromex), said that the outlook for the industry is encouraging, not only for the impulse offered by the federal government, but also for the behavior of US economy.

"In 2013 we want to achieve record figures, investment will be US$454.9 million and Ferrosur's will amount to US$50.4 million, most of it for infrastructure and capacity (...) not for engines because we had already invested on this", Mr. Velez said in XII Exporail.

Lorenzo Reyes Retana, Chief Operations Officer with Ferromex, pointed-out that Ferromex – just like Ferrosur – is expecting to post 4.8% annual growth rate in 2012-2017 term.

Source: Maquiladora Portal

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