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Mexico to invest $24 billion in infrastructure.
Issued at 2013-06-25
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Mexican president Enrique Peña Nieto announced on Thursday that the country will invest Mexican Peso 310 billion ($24 billion) in infrastructure until the end of 2013. Projects funded will include highways, railways, ports, as well as works in electric and oil systems.
According to sources previously contacted by Platts, the lack of construction and infrastructure projects has hurt domestic demand for long products, mainly rebar. Distributors and traders have said they expected the outlook to change in the second half of the year, and the unveiling of projects was considered essential to increase consumption of rebar.
Source: Platts
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