(Bloomberg) -- Five Mexican companies won the tenders in the country’s first bidding process to develop the same number of industrial parks along the Inter-Oceanic Corridor of the Tehuantepec Isthmus.

No foreign companies were among the winners, said project director Raymundo Morales in a press conference. Morales did not name the Mexican companies that won the tenders.

The largest planned investment for the corridor will be in the city of Ixtepec, Oaxaca, where an unnamed Danish company will invest around $10 billion, as President Andres Manuel Lopez Obrador revealed last week. Construction linked to that project could generate around 5,000 direct jobs, Morales said.

READ MORE: Mexico to Name Winners of Five Industrial Park Tenders in Nov.

The corridor, one of Lopez Obrador’s flagship projects, is intended to connect a port in the Gulf of Mexico with a Pacific Ocean port via a rail link lined with industrial parks.

  • The government expects investments of up to 1.5 billion pesos ($88 million) in urbanization work for each of the corridor’s development poles, Morales said
    • It plans to install industries ranging from petrochemicals to agribusiness in the area
  • Morales said the government will be strict with the use of water, requiring that it be used at least twice
  • By law, investments must have a minimum 51% of Mexican capital, Morales said
  • Although the companies that won the first tenders are Mexican, they may have foreign personnel, Morales said
  • Deputy minister for international trade Alejandro Encinas Najera said the ideal scenario is that the majority of the corridor’s employees are Mexican

 

 

(Updates with comments from government officials in last three bullets.)

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