China Railway Construction, CSR-led group to build Mexico bullet train

China Railway Construction (601186.SHA) and CSR (601766.SHA) together with a group of Mexican construction firms presented and won the only bid for a US$3.7 billion project constructing a railway connecting Mexico City with the city of Querétaro, The Wall Street Journal reported, citing officials. An additional US$660 million for maintenance and operation over five years is also tied to the winning bid, which includes 85% long-term financing of the contstruction by China Eximbank. Operating and maintenance costs are expected to be covered by rail fares.