Mexico Infrastructure Plan to Commence with $44 Billion Budget

The government of Mexico had issued a public announcement on Tuesday regarding the start of the first part of its plan for infrastructure development in partnership with private sectors. The Mexico infrastructure plan aims to improve transportation and other public infrastructure in a five-year duration.

The plan includes contracts with private sectors with a total amount of 859 billion pesos or $44.30 billion. There will be a total of 147 projects.

The major players in this wide-ranging development plan include the transportation industry, tourism industry, and the telecommunications industry.

The projects involved with the transportation industry such as for airports, ports, highways, and rail are budgeted at a cost of more or less 284 billion pesos or $14.70 billion which is estimated to last until the year 2024. The budget for this sector is already a third of the total budget set aside for the infrastructure development plan of Mexico.

Andres Manuel Obrador, Mexico's president had stated in the announcement that the details of the second part of the Mexico infrastructure plan will be released in January next year. He said that the focus of the second part of the project will be in the energy industry of the country.

According to the main business council of Mexico Carlos Salazar, the government had collaborated with other sectors in the country to create a plan that will speed up the process of the accomplishment of the Mexico infrastructure plan.

President Obrador had taken great efforts to cut the spending of the government of Mexico during his first year as the leader of the country. He had called the first part of the infrastructure development plan for the country as a kick-start to the rise of the Mexican economy.

The president said that the government is giving the economy of the country a lift with the investment scheme that Mexico will be using. He had also expressed his thanks and admiration for the cooperation and dedication of the leaders of businesses from different industries for the development of Mexico as a country.

Grupo Carso's Carlos Slim, the richest citizen of Mexico, is also involved with the infrastructure project of the country. This shows the attractiveness of the plan for private sector investors.

According to Carlos Slim, because of the positive health of the financial condition of the public sector, multiple private industries are placing their trust and confidence in investing in those projects.

President Obrador promises to affect the growth of four percent to the economy of the country. One of his moves for its achievement is the cancellation of a $13 billion-project for airport development. This airport project had begun last year and its commencement had resulted negatively in the building sector of the country due to its fall during its construction.

In an interview with media reporters, the president had denied the truthfulness of the fact that the government had issues with the business industry in the country.

President Obrador is seeing a one percent surplus on the preliminary budget of the country for this by instilling a strong sense of responsibility with the infrastructure projects of the country.