The president of Mexico, Andres Manuel Lopez Obradorsaid on Thursday that his government and Mexico Group reached an agreement whereby the company will hand over a railway section occupied by a government decree in exchange for an eight-year extension of the concession for another track operated by the company.
In mid-May, following a decree published in the official gazette (DOF), Navy troops seized a 128-kilometre railway section controlled by Grupo México Transportes in the southeastern state of Veracruz, which led to the start of negotiations between the parties. .
The day before, Reuters announced that both parties had reached an agreement. Two sources with knowledge of the deal said it did not involve cash compensation. Last week, the president assured that the company had requested 9.5 billion pesos (about US$537 million) as compensation for the measure.
López Obrador said in his daily press conference that the agreement with the conglomerate of the magnate Germán Larrea also implies that a subsidiary of the company withdraws from a lawsuit against a government railway and tourism project called Mayan train.
The parties signed the agreement on Wednesday night, the Secretary of the Interior later revealed, Adam Lopez.
Source: Reuters
Source: Gestion
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