China Jumps Into Mexico With $4.3 Billion Rail Deal
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China Railway Construction Corp. led a group that won a bid to build a $4.3 billion high-speed train line in central Mexico, marking the first large investment in transportation by a Chinese firm in the nation.
The Beijing-based company said it will turn to the Export-Import Bank of China to help finance its $2.9 billion portion of the contract. The train will initially shuttle 27,000 passengers a day between the capital and the industrial hub of Queretaro City in 58 minutes, Mexico’s government said yesterday.