Grupo México to buy Florida East Coast Railway

Grupo México, a mining and transportation company based in Mexico City, announced Tuesday that it plans to buy Florida East Coast Railway. 

The price tag is $2.1 billion, according to The Wall Street Journal.

Grupo México controls more than 6,200 miles of rail track in Mexico, handling just over 1.4 million loads per year.

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The company said the acquisition of FEC will allow it to establish itself as “an important railroad owner in the United States, adding a vital Florida rail line to the company’s existing operations in Texas.”

“The acquisition of FEC is an important strategic addition to our North American transportation service offering,” said Alfredo Casar, President and Chief Executive Officer of GMXT. “Our acquisition of the FEC will significantly enhance the scope, scale and diversification of our service.

Officials with All Aboard Florida’s Brightline said the sale would not impact the passenger rail project, which plans to start offering service in South Florida this summer.

“The sale of the Florida East Coast Railway does not impact Brightline,” the company said. “Brightline is a separate company that has dual ownership of the corridor and the right to operate passenger service. We have all shared operations-related agreements in place with the Florida East Coast Railway for us to fully build out and implement our passenger rail system.”

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