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Carlos Slim Helu. Photo credit: wikipedia.org
Mexico’s largest infrastructure companies have waited more than two years to get a piece of the capital’s new $13 billion airport project. Now as bids get under way, most are in poor position to compete. Enter 75 year old billionaire Carlos Slim.
Slim’s Grupo Carso SAB has the global reputation and healthy finances to win contracts over competitors including Empresas ICA SAB and OHL Mexico SAB’s parent company, according to Mexico City-based Vector Casa de Bolsa and consultant Boyd Group International, skift.com / Bloomberg.com reported.
Rushing to meet a 2020 deadline to open a Mexico City facility that’s already behind schedule, tenders for major work such as terminal construction are set to start in coming weeks. That’s bad timing for ICA, saddled with ballooning debt amid concern that it may need to restructure liabilities, and OHL, the target of a regulatory review that found alleged accounting violations.
“But Carlos Slim – he’s got an impeccable reputation, he’s one of the wealthiest people on earth and his name is synonymous with Mexico,” said Michael Boyd, president of Evergreen, Colorado-based Boyd Group. “Hey, is there a question there?”
Sources: skift.com, Bloomberg.com
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