UPDATE 2-Mexico sees $300 bln in infrastructure spending through 2018

Mon Jul 15, 2013 5:20pm EDT
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By Lizbeth Diaz

MEXICO CITY, July 15 (Reuters) - Mexican President Enrique Pena Nieto said on Monday he expects to see 4 trillion pesos ($300 billion) in spending on major infrastructure projects aimed at beefing up the country's economy during his six-year term.

Pena Nieto said public and private investments in transportation and communications infrastructure would reach nearly a third of that total, at an expected $1.3 trillion pesos ($100 billion) between 2013 and 2018.

The long-awaited plan will fund new highways, rail lines and telecommunications infrastructure, as well as port upgrades that will help improve logistics for the country's exporters.

"One of the key components for transforming our country is developing infrastructure the length and breadth of the country," Pena Nieto said in a speech in Mexico City.

Mexico's last six-year plan involved about $200 billion in spending and analysts expect the new plan to include greater involvement from the private sector. The government did not give details on the breakdown between public and private investment.

The president wants to boost investment in Mexico to ramp up economic growth to around 6 percent a year from an average of barely 2 percent since the millennium began.   Continued...