Mexico’s construction industry continues to struggle at the moment, while Siemens announces future investments. With Movo moving into bikes and the financial backing of the Mayan Train being a hot topic again, infrastructure and sustainability provided headlines once more.
Construction Industry Continues Downward Trend
Figures released by INEGI showed that in July, Mexico’s construction industry suffered a 9.1 percent contraction, making it the most difficult month for the industry over the last half year. Among the subsectors most effected was specialized construction and specialized civil engineering works, which showed contractions of 7.6 percent and 5.1 percent respectively.
Siemens Celebrates Mexican Anniversary with Robust Investments
Siemens announced it will celebrate its 125-year presence in Mexico with investments totaling US$420 million to be rolled out across the next three years. The bulk of the funding will go towards building health and energy infrastructure.
An extra US$20 million will be set to develop a German education model in Mexico.
Santa Lucia Delays Propaganda, Says AMLO
Suggesting that truth is in the eye of the beholder, President Andrés Manuel López Obrador on Friday claimed that the delays impacting the construction of the Santa Lucia airport are a form of “propaganda”.
However, the president, who brought about a referendum to cancel the previous airport development in Texcoco, said that those parties involved in the amparo against the Santa Lucia development were well within their rights to do so.
Movo to Move into Bikes
Cabify’s scooter sharing brand, Movo, is set to expand its presence on the street of Mexico City by moving into the bike sharing sector. However, the company is yet to receive full authorization from SEMOVI.
Private Sector to Provide 90 Percent of Mayan Train Financing
Mexico’s National Tourism Promotion Fund (FONATUR) has said that the Mayan Train project will see 90 percent funding from the private sector.
The government’s recently published 2020 Expenditure Budget saw financing for the Mayan Train cut by 57 percent in comparison the amount earmarked in 2019.