President AMLO Buys Highway Concession from Carlos Slim

President AMLO Acquires Oaxaca-Tehuantepec Highway Concession from Carlos Slim

During a working tour in Oaxaca, the President of Mexico, Andrés Manuel López Obrador (AMLO), made an unexpected announcement, revealing that the government has acquired the concession of the Oaxaca-Tehuantepec highway from the wealthiest businessman in Mexico, Carlos Slim.

AMLO emphasized the ongoing transformation in the country and its significance during the inauguration of the Barranca Larga-Ventanilla highway, where he made the revelation.

Agreement with Carlos Slim

AMLO disclosed that an agreement had been reached with Carlos Slim to acquire the concession previously held by the businessman for the construction of the Oaxaca-Tehuantepec highway. He assured that this transaction was conducted on amicable terms, with reasonable conditions and without "excessive profits". The government aims to acquire the concession without excessive gains and under fair terms. "To put it very clearly, we bought his concession," stated AMLO.

Highway Completion and Toll Waiver

Furthermore, AMLO confirmed that Slim's construction company will complete the highway, which spans 170 kilometers and includes several tunnels and bridges. The completion is scheduled for August 31, and the toll for the Barranca Larga-Ventanilla highway will be waived until the end of AMLO's term in 2024, as per an arrangement with Jorge Mendoza, the general director of Banobras, who was also present at the event.

Impact and Focus on Southeast Mexico

The construction of the Barranca Larga-Ventanilla highway has not only generated 1,800 direct jobs and 3,500 indirect jobs but also entailed an investment of 13 billion pesos, benefiting 166,000 vulnerable inhabitants in the Oaxacan mountains. AMLO highlighted the preferential treatment given to the southeast of Mexico, particularly to Oaxaca, during his administration, emphasizing the significant infrastructure projects underway in the region.

Future Plans and Continuity

Additionally, the President expressed determination to pave all roads leading to the 57 municipal centers. He also remained confident in the continuity of the Fourth Transformation and provided recommendations for his successor as he will conclude his term on September 30, 2024, and hand over the presidential duties on October 1.

This unexpected development regarding the acquisition of the highway concession from Carlos Slim marks a significant step in President AMLO's infrastructure agenda and the ongoing efforts to improve the country's transportation network.