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BlackRock is seeing the value of Mexican tourism. The long-anticipated Mayan train project could get a huge boost if the Wall Street giant moves ahead with an investment.

Mexican President Andres Manuel Lopez Obrador on Monday said U.S. investment group BlackRock is interested in investing in one of his flagship infrastructure schemes, the so-called “Mayan Train” construction project.

When asked during his daily morning news conference about a meeting he had with BlackRock boss Larry Fink last week, Lopez Obrador said the company is “interested in investing in the Mayan Train, in some sections.”

The 1,470 km (913 miles) project is designed to link tourist hot spots and spur development on the Yucatan Peninsula. The cost of the project is estimated to be just under $8 billion.

(Reporting by Raul Fernandez Cortes: Writing by Drazen Jorgic)

This article was from Reuters and was legally licensed through the NewsCred publisher network. Please direct all licensing questions to legal@newscred.com.

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Tags: BlackRock, mexico

Photo credit: A train project that will connect resort destinations along the Yucatan Peninsula, like Tulum (pictured here), is being eyed by Wall Street giant BlackRock. Jason M Ramos / Flickr

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