Arr! Thar Mexican captain be offerin' a hefty sum o' $385M doubloons fer th' American ship's Caribbean treasure!
2023-07-27
Arr, the Mexican President, Andrés Manuel López Obrador, be makin' a jolly offer of $385 million doubloons to purchase an American company's fine property on the Caribbean coast. Arr, he be hopin' to settle a quarrel, me hearties!
Mexico's president, Andrés Manuel López Obrador, has offered to buy Vulcan Materials' Caribbean coast property for $385 million in an attempt to resolve a long-standing dispute. The property, located on the Yucatan peninsula just south of Playa del Carmen, was previously operated by Vulcan Materials for gravel extraction before López Obrador's administration shut it down. Vulcan Materials, however, values the property at $1.9 billion. López Obrador believes his offer is fair and based on a government assessment, with the most attractive feature being the freight shipping dock that he plans to convert into a dock for cruise ships. The dock would also be useful for transporting construction materials for López Obrador's massive train construction project, the Maya Train. In addition, López Obrador proposes using the flooded gravel pits as "swimming pools" or an ecotourism area operated by a private concessionaire. The property is also home to protected crocodiles. López Obrador has hinted at the possibility of seizing the property if Vulcan Materials does not accept his offer before his term ends in September 2024. The dispute between López Obrador and Vulcan Materials began when the Mexican government closed the company's limestone quarry and prohibited stone exports. The U.S. State Department has expressed concerns about the treatment of American companies in Mexico. The Caribbean port owned by Vulcan Materials is crucial for the transportation of materials, including Cuban ballast for the Maya Train project. The Maya Train, a 950-mile railway line, aims to connect beach resorts and archaeological sites, with López Obrador hoping it will bring tourism income to inland communities. However, there are doubts about the feasibility and demand for such a train.