Grupo Mexico Opts Out of Argentina Cargo Rail Bid: Belgrano Cargas Privatization Suffers a Setback as Milei's Drive for Private Capital Is Tested
Grupo Mexico will not bid for Argentina's state-run cargo rail operator Belgrano Cargas, a spokesperson said on Wednesday, dealing a setback to President Javier Milei's effort to attract private capital to overhaul one of the country's most important export arteries, Reuters reported on October 21.
The Mexican conglomerate, controlled by billionaire German Larrea, had emerged as one of the highest-profile foreign suitors for Belgrano Cargas, which runs freight lines linking Argentina's grain and mining regions to export hubs over a network of about 7,594 km (4,718 miles). The government has said the system suffered decades of underinvestment and would be privatized under an "open access" model, with private operators managing infrastructure while allowing multiple freight companies to use the tracks. That structure appeared to be a sticking point: Grupo Mexico said in July it was only interested if it could secure control over both infrastructure and operations. Argentine media had reported a planned partnership with US-based rail technology company Wabtec and a proposed investment of as much as $3 billion to modernize the network.
Argentina is a major global supplier of soy, corn and wheat and is also trying to expand energy and mining exports. Less than 5% of the country's freight moves by rail, forcing heavy reliance on trucks and raising the cost of moving crops and minerals to port. (Compiled from Reuters, October 21)
Source: GSM · USA (original Chinese edition)
Photo: 阿根廷 Belgrano 线列车驶入 Del Viso 站实景。图片来源：Wikimedia Commons 文件 Belgrano cargas tren delviso.jpg，CC BY 2.0 授权
