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Business

Private Initiatives provide $11 Billion for Infrastructure Projects

CMIC President Arballo expects further cooperation between the public and private sectors

FIRMA DE PROTOCOLO DE TRANSPARENCIA SCT-CMIC
By Notimex Whatsapp Twitter Facebook Share
2 years ago

Mexico City — The Mexican Construction Chamber (CMIC) announced that the domestic infrastructure sector already has more than 200 billion pesos ($11 billion) available from private initiatives for project development, and is expecting greater participation in the future.

CMIC President Gustavo Arballo said in an interview that there are private funds available in the development bank.

“We need to be more assertive in generating and planning new projects so that we can apply these funds to infrastructure projects,” said Arballo.

“We need to be more assertive in generating and planning new projects so that we can apply these funds to infrastructure projects.”
– Gustavo Arballo, President, CMIC

This year, the industry grew by between 2 and 2.5 percent, which is encouraging given the current economic situation, but still not sufficient, said Arballo.

The CMIC president added that the measures put in place by the federal government were necessary, given the depreciation of the peso against the dollar and the global macroeconomic environment.

However, the private sector will nevertheless continue to invest in housing, infrastructure, and Public Private Partnerships (PPPs), he said.

“It means that there are fewer job opportunities for us in the construction industry and our supply chain, but we have also been looking at how to involve the private sector’s participation,” said Arballo.

The CMIC president also explained that the 50 billion peso investment planned for the next three years is designed to support small and medium-sized enterprises (SMEs) working in the domestic construction industry.

Arballo said that the CMIC will continue to work with the federal government because “now is the time” to take advantage of the favorable investment conditions in the country.

BY EVANGELINA DEL TORO

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