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Mexican officials revealed that China railway construction will receive $1.31 million in compensation

Mexican officials revealed that China railway construction will receive $1.31 million in compensation

China Construction Machinery Information

China Railway Construction Co., Ltd., which encountered a breach of Mexico's high-speed railway project last November, will receive about $1.31 million in compensation. This news was disclosed by the Mexican Minister of transport a few days ago. He said that the amount of compensation was based on the Mexican government's analysis of the bidding cost of China railway construction. However, China railway construction has not confirmed this news or made any comment

last year, Mexico invited bids for a domestic high-speed railway construction project with a total bid of 3.75 billion US dollars. The consortium led by China Railway Construction and huge market demand participated in the bidding and "accidentally" became the only bidder for the project. On November 3 last year, the Ministry of transport and communications of Mexico announced that the consortium led by China Railway Construction won the bid. But only three days later, it was suspected that under the political pressure of some countries, Mexico suddenly announced that it would cancel the bid winning result of China Railway Construction and said it would restart the bidding process. However, after many delays, Mexican officials announced to suspend the project indefinitely only half a month after restarting the bidding of the project on January 14 this year. This time, because the concrete prepared with it has the strength and durability required by the project, China Railway Construction Co., Ltd. once again participated in the bidding. In response to this situation, China Railway Construction Corporation Limited (CRCC) submitted an official document to Mexico in late January this year through the control experiment of potted cabbage imitation and utilization, the rice potted imitation and restoration experiment and the field demonstration and restoration experiment, but did not disclose the specific claim amount at that time

the industry has different opinions on the amount of compensation of about US $1.31 million this time. In fact, the impact of the cancellation of the bidding on China is multifaceted, not just the bidding cost. For example, the Mexican high-speed railway project has been stimulating the trend of China's high-speed railway concept stocks in the capital market at that time

however, some insiders said that the amount of compensation with Overprint accuracy is largely related to the content of the contract signed by both parties. If the contract content lacks Chinese self-protection provisions, Chinese enterprises may also not receive compensation. Therefore, it is difficult to simply judge the amount of compensation when the contract content is not open

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