Rogelio Jiménez Pons is in charge of the Mayan Train project and director of the National Fund for Tourism Development (FONATUR). Photo: Getty

Mexico voided a tender process where just one bidder proposed to build the Mayan Train between Cancun and Tulum.

The bid was offered by a consortium that includes U.S. investment group BlackRock. Its rejection leaves no one to build that crucial 75-mile section of the 910-mile rail line.

The US$7 billion project, designed to link tourist hot spots with more remote areas of the Yucatan Peninsula, is a top priority of President Andres Manuel Lopez Obrador. When he ran for office, he proposed the project as a major economic generator for Mexico’s less affluent south.

BlackRock did not respond to a Reuters reporter who tried to contact them after office hours.

Fonatur said in a statement late Tuesday that the Greenfield SPV VIII proposal was “not solvent” and that it would open another bidding process for under a different scheme that has yet to be determined.

Source: Reuters

Avatar

Yucatán Expat Life is a news and information source for people who love it here. Sign up for YEL's free newsletter, which delivers the week's top headlines every Monday.