Mexico govt to finance 70% of Maya train

Mexico's State will finance up to 70% of the Maya train, a project that was initially going to be financed almost entirely by the private sector.

"We're betting on the government putting up 70% or more of the train [project], borrowing the rest against future revenues," Rogelio Jiménez Pons, head of tourism board Fonatur, said in an interview with El Financiero daily. He said  the move was a direct order from President Andrés Manuel López Obrador.

The Mayan train was not included in the first stage of the national infrastructure program for 2019-24, which includes private investments only and was presented last week.

In the 2020 federal budget approved last month, the Maya train was allotted 2.5bn pesos (US$128mn).

López Obrador has scheduled for December 15 a public consultation on the Mayan train with indigenous group in the south of the country that would be affected by the project. 

The project comprises three stretches – Jungle, Golfo and Caribe – with total investment estimated at around US$7.78bn.