Mexico plans to invest $316 billion in infrastructure

On the morning of July 16, Beijing time, according to Bloomberg, Mexico announced that it would invest $316 billion over the next six years to build thousands of miles of new roads, railways, telecommunications infrastructure and overhaul ports, which the country's president said would boost the competitiveness of export companies and stimulate growth.

Mexican President Enrique Pena Nieto said the country's infrastructure had fallen behind its level of competitiveness. "With better infrastructure, more investment, transformative reforms, our country will be able to realize its full growth potential," he said.

The planned investment could add 5 percentage points to Mexico's GDP. The forecast sent shares of Industrias CH, a Mexican steelmaker, and Empresas ICA, the largest construction company, up 3.3% and 3.2%, respectively.