Mexican authorities are designing a plan to improve the nation's rail network, the country's transport and communications (SCT) minister Luis Téllez told BNamericas.
"We will improve the rail system so that, through a number of investments, we can double the average travelling speed," Téllez said.
Investments will also be made to increase cargo rail capacity, Téllez said. Mexico's rail lines currently transport 18% of the cargo handled in the country.
"We expect trains to handle 26% of the cargo transported in the country by the end of President Felipe Calderón's term," Tellez added. Calderón's term ends November 30, 2012.
While he said investments will be large, Téllez did not specify how much is needed to upgrade the rail network, nor when this investment will be carried out.
According to an official from a multilateral agency, Mexican authorities are currently seeking financing for these initiatives, which are expected to suffer delays due to the global financial and credit crises.
Railways in Mexico are concessioned but many expect the state to partially fund their modernization through subsidies, the official said.
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