MEXICO CITY – Sept. 26, 2022 – Attorneys from global law firm Greenberg Traurig’s Mexico City office represented Banobras (National Works and Public Services Bank) in a transaction that increased a loan to Empresas ICA (ICA) to MXN$8,000 billion. The loan is for the development of the Tren Maya (Mayan Train) strategic project for the Mexican Federal Government. ICA is the largest infrastructure, engineering, procurement, and construction company in Mexico.
Tren Maya, now under construction, is a 1,525-kilometers intercity railway in Mexico that will traverse the Yucatán Peninsula. The railway begins in Palenque, Chiapas, and travels northeast towards Cancún, Quintana Roo, via two routes that encircle the peninsula. It is one of the largest and most ambitious projects that the Mexican government has proposed.
The loan increase addresses materials, road adjustments, and construction of the platforms and tracks of the train corresponding to the Izamal-Cancún Section, also known as Section 4 of Tren Maya.
The Greenberg Traurig team was led by Project & Infrastructure Finance Practice Shareholder Rodrigo Orozco Waters and Associate Edgar Fernando Orozco Ceballos.