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Rail News: Rail Industry Trends
7/18/2006
Rail News: Rail Industry Trends
Mexican government to fund three-fourths of Chiapas-Mayab's line rebuilding costs
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Genesee & Wyoming Inc.’s (GWI) Mexican railroad will receive about $15 million in government funds to help rebuild a line damaged by Hurricane Stan in October 2005.
Compania de Ferrocarriles Chiapas-Mayab S.A. de C.V. recently received a letter from the Ministry of Communications and Transportation stating the government will fund 75 percent of the $20 million cost to rebuild a portion of the 175-mile line between Tonala, Chiapas, and the Guatemalan border.
GWI will fund $3 million and insurance proceeds will cover the remaining $2 million for the project, which is expected to begin by year’s end.
Compania de Ferrocarriles Chiapas-Mayab S.A. de C.V. recently received a letter from the Ministry of Communications and Transportation stating the government will fund 75 percent of the $20 million cost to rebuild a portion of the 175-mile line between Tonala, Chiapas, and the Guatemalan border.
GWI will fund $3 million and insurance proceeds will cover the remaining $2 million for the project, which is expected to begin by year’s end.
