Mexico: Gov't and Private Sector Sign Second Investment Package

On Monday, Mexico's government announced the second investment package alongside the private sector to recover the economy amid the COVID-19 pandemic.

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The investment plan includes 29 infrastructure projects, which range from the Naucalpan-Ecatepec highway, the Energia Costa Azul natural gas liquefaction terminal, the Brownsville-Matamoros Vehicular Bridge, the Trans-isthmic gas pipeline to the Block Water Supply, Los Cabos Desalination Plant.

The new agreement is worth $11.4 billion. According to the Secretary of Treasury, 10 out of the 29 projects have started already. The list also includes the first Liquefied Natural Gas terminal on the Pacific coast of North America.

On October 5, 2020, the government signed the first agreement with the private sector to work together to build the infrastructure of 39 projects. The agreement specifies that the federal government will finance public infrastructure projects where the private sector has invested at least 50 percent of its total value.

Moreover, it is estimated that between both agreements, over 400.000 jobs will be created. "I estimate that for the next quarter, the first three months of next year, we will return to the situation we were in before the pandemic," President Andres Manuel Lopez Obrador explained.