Autopista Del Sol

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Escrito por Scott desde ( el día miércoles, 28 de marzo, 2007 a las 18:38:13 horas :

En respuesta a: Re: Business report badly misrepresented escrito por mexhapati desde ( el día miércoles, 28 de marzo, 2007 a las 16:11:05 horas :

The toll cost WAS reduced by 20% as people were complaining left & right about it. What do they spend all that toll money on (it's a lot!) ? Certainly not maintenance.

The highway was announced in 1989. The state government of Guerrero took out a bank loan from Banca Serfin, to contribute 5% towards the cost of the highway. This was 85 million pesos (85 billion old pesos). They evidently never paid off this debt, which has mushroomed into a debt of 900 million pesos. The state government is now paying about 70 million pesos / year in interest on their original 85 million peso loan.

During the term of President Carlos Salinas, 1988-1994, many of Mexico's highways were privatized. The first stretch of this new Autopista del Sol, Mexico to Cuernavaca, was to be the first privately built highway under the new privatization program. However, privatization was a big screw up, and the federal government, in 1997, bailed out the private companies and bought back 23 of the 52 private highways and bridges. To do this, the federal government took out a loan, for 36.6 billion pesos. Evidently, the federal government is not very good at paying back their loans either, and with interest the federal government now has a debt of 165 billion pesos for the bailout.

The principal shareholder of the group contracted to do the work on the Mexico-Cuernavaca segment, Grupo Mexicano de Desarrollo, was also a shareholder of the Serfin Financial group that was financing 60% of the highway. Two other companies, ICA and Tribasa, were invited to work on the other segments of the highway, along with the Grupo Mexicano de Desarrollo as they had done such a nice, quick job on the first segment. Shortly thereafter, in 1994, the president of Tribasa made it onto Forbes annual list of billionaires, thanks to the contracts he received during the Salinas years to build and operate highways.

Everything seems to indicate that this highway is in fact in terrible condition, with, amongst other problems, one 23 km stretch down to one lane, adding about 36.5 minutes onto the trip.

So, for those 1042 pesos, the round trip cost of travel between Mexico City and Acapulco, you are not in fact paying for highway maintenance, but presumably to pay off the huge debt that the government has incurred. The revenues of 1.693 billion / year (2005) on this highway, with seemingly little maintenance, doesn't seem to be enough to make even the smallest dent in their debt for these highways.

After all this, with the privatization program that began in 1989, and the bailout/buyback of 1997, the new president, Felipe Calderon, announced earlier this month that he wants to re-privatize these 23 rescued highways.


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