Corporate Moment | GMéxico, decisive support for infrastructure – El Sol de México

Beyond the various voices that warn of alleged divergences between the conglomerate chaired by Germán Larrea and President Andrés Manuel López Obrador, one more announcement denies such versions and makes clear Grupo México’s support for the infrastructure projects of the current administration. And through its subsidiary, Grupo México Transportes purchased 60% of two companies that are dedicated to the maritime transportation of railroad cars between the United States and Mexico, an operation with which it seeks to support the sustainable development of the south and southeast of Mexico and that is in synergy with the Transisthmian Project that contemplates a new industrial corridor with high potential and the operation of the recently inaugurated Interoceanic Train, and thus the south of the country could become another border with the United States and allow direct service to the Middle East markets. West and East of the US market.

Grupo México Transportes signed various contracts with Rail Ferry Investment Holdings, G&W Agave Holdings, and certain of their respective subsidiaries to carry out the acquisition of 60% of the interests representing the capital of Gulf of Mexico Rail Ferry Holdings, and Rail Ferry Vessel Holdings , entities whose main business consists of providing the maritime transportation service for railway cars between the United States of America and Mexico, known as Ferrobuque.

Grupo México Transportes already had a majority stake in the capital stock of Terminales Transgolfo, which operates the rail ship terminal in Coatzacoalcos, Veracruz, and with the acquisition it will now also have a majority interest and control over the acquired assets, which provide the service. rail ship and its operations at the port terminal of Mobile, Alabama, in the United States. The Ferrobuque service is provided through new ships, with more capacity and that use ultra-low sulfur fuel.

The operation is expected to be completed during the second quarter of 2024, once it has regulatory and investment approvals in the United States, such as the Committee on Foreign Investment in the United States and the United States Surface Transportation Board. from America.

Regarding the operation, Banorte’s analysis team considered that the news reflects the long-term benefits derived from the nearshoring. “Gmxt currently owns a majority stake in Transgolfo Terminals, an entity that manages rail ships in the Coatzacoalcos and Veracruz terminals. This recent acquisition will allow the company to expand to the terminal located in Mobile, Alabama, in the United States, which consolidates it as a leader in cargo transportation in the region, taking even more advantage of the connectivity between both countries,” he highlighted. Banorte.

@robertoah

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