G-Mex and govt reach deal on Ferrosur’s rail concessions

Mexico’s federal government reached an agreement with Grupo México Transportes’ Ferrosur unit on its freight rail concessions in the south of the country, President Andrés Manuel López Obrador (in photo) announced. 

The agreement includes an extension of Ferrosur’s concession of the Medias Aguas-Veracruz stretch on the Tehuantepec Isthmus in exchange for the return of other 127km.

According to a press release from Grupo México, the 127km are within rail stretches El Chapo-Coatzacoalcos, Coatzacoalcos-Medias Aguas, and Hibueras-Minatitlán.

During his Thursday morning press conference, López Obrador and interior minister Adán Augusto López said the deal was signed by both parties after an appraisal of the 127km railways was made by government agency INDAABIN. As a result, the concession for the Medias Aguas-Veracruz stretch will be extended and will now end in 2048, says Grupo México.

The minister said Grupo México trains will be able to use the 127km returned stretches by paying a fee. 

“INDAABIN determined that the value was 836.9mn pesos [US$47.3mn],” said the minister. “That amount translated into an extension of the expiration date [of the concession] of eight years, and a right of way fee was also agreed at 4.10 pesos per railcar and 8.15 pesos per locomotive.”

López Obrador said during that talks it was also agreed to drop the lawsuit filed by Grupo México and Acciona Infraestructuras after their contract to build a stretch of the Maya train was terminated. 

On May 19, López Obrador issued a decree to declare the rail stretches under concession to Grupo México along the interoceanic corridor on the Tehuantepec Isthmus a matter of national security. 

After publishing the decree, the navy took over Ferrosur’s facilities – a move that affected the Mexican peso and stock exchange on Monday, with the latter having one of its worst days this year.