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Mexico's President Andres Manuel Lopez Obrador waves a flag during the start of the third section of the construction of the Mayan Train railroad project in Maxcanu, Mexico, on June 2, 2020.Mexico's Presidency/Reuters

A consortium that includes U.S. investment group BlackRock Inc was the sole bidder for a section of one of the Mexican president’s flagship infrastructure projects, the so-called “Mayan Train,” the tourism authority said on Thursday evening.

The 1,470-kilometre project is designed to link tourist hot spots and spur development on the Yucatan Peninsula. The cost of the project is estimated at about $7 billion.

Mexico’s National Fund for Tourism Promotion (Fonatur) said in a statement that the Greenfield SPV VIII proposal, a consortium with BlackRock Mexico Infraestructura II and other companies, was the only bidder for the 121-kilometre “section 5” that runs from Cancun to Tulum in Quintana Roo state.

Fonatur will announce the winner of the contract on Aug. 31.

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