JOC Staff | Jan 28, 2013 1:17PM EST
Grupo Mexico has allocated $3.5 billion for its investment budget in 2013, which will be presented for the approval of the board of directors.
Of this total, $2.0 billion will be invested in the mining division, $1.0 billion in the infrastructure division and $500 million in the transportation division. The transportation division will use the funding to improve the efficiency of its railroad network, including the construction of new sidings, new yards and a second track in the high traffic density zones, as well as safety initiatives.
The company said it invested a total of $2.1 billion in 2012, which was 74 percent more than the previous record of $1.2 billion invested in 2011.