Friday, November 7, 2014

Mexico Scraps $3.75 Billion China Rail Deal Ahead of State Visit

Mexico has revoked a $3.75 billion (2.37 billion pound) high-speed rail contract from a Chinese-led consortium after its uncontested bid prompted an outcry from lawmakers, souring a state visit to China next week by President Enrique Pena Nieto. After the contract to build the link was awarded on Monday, opposition politicians accused the government of favoring the group led by China Railway Construction Corp Ltd, the sole bidder. Mexico's communications and transport ministry, which has defended the bid process, said on Friday it expects to re-run the tender in late November under the same terms, and would keep it open for six months to enable all interested parties to participate.

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