Mexico Unveils Private-Backed $14 Billion Investment Plan to Lift Ailing Economy | Investing News

MEXICO CITY (Reuters) – Mexico’s government presented an almost $14 billion infrastructure investment plan on Monday as President Andres Manuel Lopez Obrador seeks to repair rocky relations with business leaders and lift the struggling economy.

The package, mostly privately financed, is the first clear sign of corporate bosses’ readiness to invest under Lopez Obrador since the coronavirus pandemic plunged Latin America’s no. 2 economy into its biggest slump since the Great Depression.

Ranging from a concession to revive a planned train link between Mexico City and the central city of Queretaro, to investments for state oil firm Petroleos Mexicanos (Pemex), the raft comprises some 39 projects, the government said.

Unveiling the plan, worth over 297 billion pesos ($13.83 billion), at a news conference, Lopez Obrador extended a hand to corporate bosses with conciliatory language.

“We have no problem with business leaders. On the contrary, they deserve our utmost respect and

Read More