Rail

China demands recompense after Mexico suspends rail project

Posted on February 4, 2015

BEIJING, China — The Chinese government has called on Mexico to respect the legal rights of Chinese firms after the Mexican finance ministry suspended the now-infamous $3.7 billion high-speed rail project, Global Construction Review reported.

RELATED: Mexico cancels high-speed rail contract with China-led group

Mexico needs to “value and properly cope with the huge manpower and money Chinese enterprises invested in the project bid, and carry out measures for further bilateral cooperation,” said a spokesperson for the National Development and Reform Commission, China’s top economic planning body, official news agency Xinhua reported.

Mexican budget minister Luis Videgaray announced January 30 that the “indefinite suspension” was the result of falling oil prices and the need to cut public spending. The federal government derives about a third of its revenue from the oil sector, according to the report.

For the full story, click here.

View comments or post a comment on this story. (0 Comments)

More News

FRA makes $318M available for capital projects

This NOFO will assist in funding projects that improve intercity passenger and freight rail transportation safety, efficiency, and reliability.

HyperloopTT signs agreement to develop system in China

Will work in partnership with the government of Tongren, located in eastern Guizhou province, in defining the route for the system.

Metra to open railcar procurement to alternative car designs

Agency received only one response to its initial RFP for new bi-level gallery cars.

Tunnel boring work set to begin for L.A. Metro rail extension

STV is serving as the engineer-of-record and principal design firm for the 2.6-mile-long Purple Line extension.

640K New Yorkers have no accessible rail station nearby, report says

Roughly half of the neighborhoods served by the NYC subway system – 62 out of 122 – lack a single accessible station.

See More News

Post a Comment

Post Comment

Comments (0)

More From The World's Largest Fleet Publisher

Automotive Fleet

The Car and truck fleet and leasing management magazine

Business Fleet

managing 10-50 company vehicles

Fleet Financials

Executive vehicle management

Government Fleet

managing public sector vehicles & equipment

TruckingInfo.com

THE COMMERCIAL TRUCK INDUSTRY’S MOST IN-DEPTH INFORMATION SOURCE

Work Truck Magazine

The number 1 resource for vocational truck fleets

Schoolbus Fleet

Serving school transportation professionals in the U.S. and Canada

LCT Magazine

Global Resource For Limousine and Bus Transportation

Please sign in or register to .    Close