Portuguese infrastructure developer Mota Engil has begun works on a MXN 4bn (USD 209m) project in Puebla that it is seeking to acquire and finance, according to two sources close to the situation.
Mota Engil is negotiating the purchase with the current sponsors and negotiating renewed terms with the state government of Puebla. The government awarded the original contract for the 63.3km, second stage of the Cuapiaxtla-Cuacnopalan highway to a subsidiary of Oceanografia in 2011.
Oceanografia temporarily lost the concession contract in 2014 when the state government confiscated it, claiming the concessionaire could not adequately deliver the project amidst a fraud scandal that bankrupted the parent company.
However, the concessionaire appealed and in 2015 won the right to maintain the project, which it later sold to the unknown investors who are now selling to Mota Engil.
Mota Engil already works in the state, currently developing the refurbishment of the Necaxa water network and the Necaxa 700 reversible pumping station, according to comments made by Mota Engil Mexico president José Miguel Bejos in a 23 October press conference.