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Mexico unveils $11.4bn infrastructure investment plan English.Lokmat.com

Mexico unveils $11.4bn infrastructure investment plan

Mexico City, Dec 1 The Mexican government has unveiled a second infrastructure investment plan, in collaboration with the ...
Mexico unveils $11.4bn infrastructure investment plan

Mexico City, Dec 1 The Mexican government has unveiled a second infrastructure investment plan, in collaboration with the private sector, that calls for 228 billion pesos ($11.4 billion) in spending on 29 public works projects.

Addressing a press conference here on Monday, Finance Minister Arturo Herrera said the goal was to kick-start jobs creation by immediately spending in such sectors as communications, energy, tourism and the environment, among others, reports Xinhua news agency.

The new package comes in the wake of an initial infrastructure investment plan launched in October, for a total of 68 projects at a cost of 525 billion pesos, or 2.3 per cent of Mexico's GDP.

"The projects are found throughout the country," Herrera told President Andres Manuel Lopez Obrador and other officials and private-sector leaders attending the press conference.

Among the main projects is a 47 billion peso liquefied natural gas terminal in Ensenada, a town in the northwest state of Baja California.

The President of the Business Coordinating Council, Carlos Salazar, said the projects could generate 400,000 new jobs, making up for some of the jobs lost to the coronavirus pandemic.

The Mexican economy, the second largest in Latin America after Brazil, could see a 9 per cent drop in 2020 due to the pandemic, according to the International Monetary Fund.

( With inputs from IANS )

Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

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