Full Speed Ahead with the Trans-isthmic CorridorBy Dania Vargas Austryjak
Bridging commerce between the Americas and Asia.
At long last, the Industrial and Logistics Corridor of Meixco’s Isthmus of Tehuantepec has received the green light. After decades of being on hold, this project will now be receiving the funds to be developed in 3 stages over a period of several years, beginning in 2016. Railway, port, road and airport infrastructure are expected to improve as a result of the project, to promote the region’s development.
The Isthmus of Tehuantepec is the region with the shortest distance between the Gulf of Mexico and the Pacific Coast of Mexico, which had long been heavily used as a road and railroad connection for interoceanic commerce.
The Transístmico, or the Industrial and Logistics Corridor of the Isthmus of Tehuantepec, would go from Salina Cruz in the Pacific state of Oaxaca, to Coatzacoalcos in the Gulf state of Veracruz. It will be receiving MX $4,343 million (roughly US $300 million) by 2016 for research and the first stage of construction, including railroad, port, road and airport infrastructure improvement, which is planned to take a year and a half to complete.
The second stage is planned to be developed over a three-year period. The third and final stage could be completed in a period from 5 to 10 years. The project has two main axes: developing transport infrastructure and industrial development.
This project aims to fulfill foreign and local demand, becoming an alternative for transporting commerce between China and the Americas. It would also provide logistic, transportation and industrial transformation services through its projected railway, road networks, communications infrastructure, two sea ports and two airports; not to mention its reach for international markets.
According to a cost-benefit analysis published by Mexico’s Secretariat of Communications and Transport, the project is expected to double the GDP per capita of the region.
- Spain and Mexico’s Trade Relations Curdle over Manchego Dispute
- Cape Town Water crisis: 'Day Zero' Draws Near
- MORGAN STANLEY: Here are the 6 internet stocks to bet on in 2018
- Ford announces $11B investment, 40 electrified vehicles by 2022 at Detroit Motor Show
- Automobile Revenues will fall 40% due to Electric and Autonomous Vehicles
- Mexico debuts its best startups for 2018 at CES
- Inside the Secret Society Running the World of Cryptocurrency
- Opinion: Who Will Profit Off the Next Crash?
- This is how Jeff Bezos will support the 'dreamers'
- Oil Reaches $70 a Barrel for First Time in Three Years
- Peso predicted to make comeback in 2018: Bloomberg
- Chihuahua´s governor denounces Government reprisals for PRI corruption investigation