Grupo México exits Belgrano Cargas bid; 50-yr concession race narrows

Grupo México withdrew from the bidding for the 50-year concession of Argentina's Belgrano Cargas freight railway, citing dissatisfaction with bidding documents, despite a promised US$3 billion investment. The tender, to be defined from November 11, now sees local firms and a grain-export consortium competing. This reduces foreign participation and may affect the project's scale and financing.