After months of delays, the Mexican privatization progamme has sprung back into life. In December, the government raised $1.8 billion from the sale of its northeastern railway line, by far its largest privatization deal since the devaluation of the peso in late 1994. Congress has also dropped its opposition to the sale to foreign investors of a 49% stake in the country’s down-stream petrochemicals industry, raising hopes that privatization will speed up in 1997.
The tender for the northeastern line was won by a consortium of Transportacion Maritima Mexicana (TMM) and Kansas City Southern of the US.
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