Home Headlines Tren Maya’s investment model will not give “control” to entrepreneurs

Tren Maya’s investment model will not give “control” to entrepreneurs

by Yucatan Times
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The private initiative investment will guarantee the importance of the Maya Train Project, explained Rosado Castillo, the project liaison in Yucatan.

When asked about the budget cut of the Mayan Train for next year, Rosado Castillo, explained that 90 percent of the investment will be private and assured that does not mean they will have control over the project, but instead, that will guarantee the transcendence of such an important plan.

Last weekend, a 51 percent reduction in economic resources for the Tren Maya was announced for next year: in 2019, 4.6 billion pesos were approved for the Maya Train, but in the Budget of Expenditures of the Federation 2020, the figure was reduced to 2.5 billion.

Interviewed in this regard, Rosado Castillo reiterated that the Maya Train will be financed with public and private resources. Specifically, 90 percent of the investment will come from the private initiative and only 10 percent will be public resources. He said that this model, rather than providing “the power or control” of the project to entrepreneurs, will guarantee the importance of the train.

“We are promoting the importance of this project, which is based on a social economy that is binding on local, national and international investment dynamics,” he said.

According to the official, these companies will be selected via tender. The calls will be opened according to the sections that were already raised: from Palenque to Escárcega; from Escárcega to Calkiní; from Calkiní to Izamal; from Izamal to Tulum; from Tulum to Cancun and Bacalar; and from Bacalar to Escárcega.

“The businesses will generate development consortia so that they can compete based on their construction and credit access capabilities”, he added.

“Companies that win a tender will not collect all the resources until they finish the project assigned to them”, said Rosado Castillo.

“After the conclusion, they will collect the resources in a period of 20 to 30 years, which would represent a service contract derived from the execution of the project, so that the private parties that generate the work do not leave hidden costs and make themselves responsible for the execution of the work and its operation ”, he detailed.

Finally, Rosado Castillo insisted that the railroad route is not being modified based on the interests of the private initiative, but according to the social, environmental, cultural and economic characteristics of the areas that the Maya Train route will cover.

The Yucatan Times Newsroom

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