LatinNews Daily - 15 October 2020

* Mexican-founded international conglomerate, Caxxor Group, has announced an initial investment of US$3.3bn in a tri-national rail corridor linking Mexico’s Sinaloa state with Winnipeg city in Canada via the US. The initiative is known as the 'T-MEC Corridor' – a reference to the new US-Mexico-Canada Agreement (USMCA) regional trade deal (T-MEC in the Spanish acronym) which took effect on 1 July. The project contemplates the construction of a new port in Sinaloa for US$1bn, a logistics centre in Winnipeg for US$400m, as well as US$1bn for the development of logistics centres in Mexico and US$300m for a shipyard. In an interview with Mexican news magazine Expansión Carlos Ortiz, president and CEO of Caxxor Group, said that the corridor could also cross through the Mexican states of Durango and Coahuila and the US cities of Dallas, Tulsa and Chicago. According to the Expansión article, the whole initiative should be completed within five years.

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