China Railway Construction Corp. (CRCC) looks poised to clinch a contract to build a $3.75 billion Mexican high-speed train system even after its original winning bid was revoked when it became engulfed in a political scandal, say sources with knowledge of the bidding.
Mexico will on Wednesday reveal the fresh bid terms for the tainted train project linking Mexico City with the wealthy industrial city of Queretaro, which was meant to be one of Mexican President Enrique Pena Nieto's flagship infrastructure investments.
People close to the Chinese rail giant or familiar with rival bids say CRCC is still likely to win, given its broad financing plan, its cheap high-speed technology and political support in Mexico.