Local companies to fund road construction in Mexico's Nuevo León
A group of local firms in Pesquería, a municipality in Mexico's Nuevo León state, will provide 280mn pesos (US$14.6mn) to build road infrastructure that will connect to an industrial park.
The investment will specifically serve to fund the first phase of construction of the area's Libramiento Norte bypass, local daily El Norte reports. Construction works are set to begin in January and last for about four months, according to El Norte.
The federal government is expected to provide additional 2bn pesos to complete the remainder of the bypass, which will take three years to be built.
The first stage of the project, to which the private funds will be allocated, involves the construction of a 16km four-lane stretch to connect the existing Miguel Alemán highway to the Ternium industrial complex.
A junction to connect the Miguel Alemán highway to the Nuevo Laredo highway will comprise the project's second phase. The third stage of construction involves building a 22km highway section to connect the industrial park to the municipality of Cadereyta.
Arturo Garza, a representative of the investors group, told the paper that the project has already been registered with the country's finance ministry, and that the federal government has committed to provide the complementary funds.
Rail operators Kansas City Southern de México and Ferromex are also set to build two rail bypasses that will run parallel to the planned highway, Garza said.
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