Nearshoring could boost transoceanic rail project in southern Mexico

Investment plans for a stretch of southern Mexico anchored by a transoceanic freight rail line aim to take advantage of the "nearshoring" trend of moving production to North America and away from Asia, a senior Mexican official said on Monday.

Deputy Economy Minister Alejandro Encinas made the comments at an event touting the potential of the so-called Interoceanic Corridor development plan, which aims to link Mexico's Pacific and Gulf coasts via an expanded freight rail line along with multiple industrial parks designed to attract investment to poorer parts of the country.