Ferromex, a unit of mining and railroad concern Grupo Mexico, said in a statement that it expects to invest $121.6 million in infrastructure upgrades and development of a rail yard at Rio Escondido, in northern Coahuila state, to speed up movements at the Piedras Negras-Eagle Pass border crossing. Ferromex said it invested close to $100 million in 2009.
KCSM, the Mexico unit of Kansas City Southern, which operates the Laredo- Nuevo Laredo crossing, said in a separate statement that it plans to invest $121 million this year, including $80 million in infrastructure upgrades.
KCSM said additional
investments would be made in longer-term, multi-annual projects that include a
new terminal at the Pacific port of Lazaro Cardenas and cross-border bridges at
Laredo-Nuevo Laredo and Matamoros, which lies across the U.S. border from
Ferromex said it transported 5.1 percent less cargo in 2009 than in 2008 as a result of the recession, while its sales in peso terms rose three percent.