Digest: $3.3 billion plan would create Mexico-Canada rail corridor

News Wire Digest for Oct. 15: Bond pricing delayed for Las Vegas high speed project; proposed Florida intermodal facility in limbo after vote

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Thursday morning rail news:

Plan would create Canada-Mexico rail corridor

Caxxor Group, a Mexican conglomerate dealing in infrastructure development, has initiated a $3.3 billion private-sector project for a rail connection between Mexico’s Sinaloa state and Winnipeg, Canada, via the United States. BNamericas.com reports the project would establish two logistics centers, one in Winnipeg and one near the port of Mazatlan, Mexico, with terminals to handle containers, automobiles, bulk commodities, and petroleum products. The project would require the construction of about 54 miles of rail right-of-way to go with the more than 4,400 miles of existing rail lines in the corridor. Mexico News Daily says $1 billion will be invested in the Mazatlan port, which is to be capable of handling 8 million containers annually, making it the largest container port in Latin America.

Report: Pricing of bonds for Las Vegas high speed project is delayed
Bloomberg reports Fortress Investment Group has delayed the pricing of $3.2 billion in municipal bonds to finance construction of Brightline’s Xpress West high-speed rail line between Southern California and Las Vegas. The Bloomberg report says the move reflects investor hesitation to finance the project in an uncertain economic climate. The price was supposed to be set Wednesday but has been postponed with no new date set. Brightline has until Dec. 1 to sell the bonds under a deadline set by California officials.

Legal question puts vote to stop Florida intermodal facility in limbo
Commissioners in Charlotte County, Fla., voted unanimously against an intermodal facility to be served by Seminole Gulf Railway, but the vote may be moot based on a 2008 zoning decision. The Port Charlotte Sun reports that lawyers for the county and developer Seventeen Seventy-five LLC disagree whether the 2008 vote allowing “planned development” on a 20-acre site on U.S. Route 17 near Interstate 75 provides the right to build the facility. Commissioners ended up delaying the second part of a vote to kill the project until a closed-door meeting to clarify the legal situation. Residents of more than 200 homes near the site have mobilized to fight the intermodal facility.

 

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