Bombardier eyes jumping on board Mexico's passenger train plan
MEXICO CITY (Reuters) - Bombardier Inc (BBDb.TO), the world's biggest train manufacturer, anticipates bidding on all six of the new Mexican passenger rail projects it expects to be tendered later this year, the company's Mexico chief said on Tuesday.
Mexican President Enrique Pena Nieto has vowed to oversee a passenger rail renaissance in Mexico, with six major projects planned by 2018, including a high-speed connection between Mexico City and the industrial hub of Queretaro, the Mexican home of Bombardier's aerospace unit, about 136 miles north of the capital.
"For me, my personal goal is to participate in every bid and win them all," Alfredo Nolasco, the Montreal-based company's chief Mexico representative, told Reuters, but he cautioned the company is awaiting more details on the projects to be released by the government before deciding if the numbers work.
"Us here at Bombardier, and I think the whole industry, have faith these projects will be completed. If we didn't think so, we wouldn't be following it so closely and precisely."
Nolasco said he expects bidding on the new rail projects to open by September.
In the last 20 years, Bombardier has invested $200 million in its Mexican train-assembly business, with clients including the New York City subway.
Bombardier supplies all of the trains for Guadalajara's urban light rail system, three-quarters of Monterrey's and two-thirds of Mexico City's subway trains.
In Bombardier's most recent earnings report, it said quarterly revenue for its rail transport unit rose 15 percent to $2.1 billion. It said it expects an increase in train revenue over the course of the year, but did not provide a specific forecast.
(Reporting by Gabriel Stargardter; Editing by Peter Galloway)
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