The U.S. company Railroad Development Corp. (RDC), which owns the railway concession in Guatemala, has denied having reached an agreement to sell.

As for the Hyundai Corporation, the Asian giant together with another South Korean company had been mentioned as interested in investing $2,400 million in the creation of a dry canal linking the Atlantic and Pacific coasts of Guatemala by railway. Hyundais denies involvement in the project in any capacity.

Source: elperiodico.com.gt

More on this topic

Guatemala to Review Rail Contracts

September 2013

After the transfer of the controlling interest to the State, the company will review existing contracts with rail customers.

Prensalibre.com reports: "The lease to Compañía Bananera Guatemalteca, the pipeline easement for fuel transport with Texaco, the route for LPG transport with Zeta Gas, signed in 2002, and the easement for electric power transfer with Generadora Eléctrica del Norte and a similar one with Generadora del Sur, signed in 2001, are the contracts that the state will recover when it gains the rights for the railroad. "

A Light at the End of the Tunnel for Guatemalan Railway

July 2012

After the court decision that awarded the Guatemalan State the rights to the railroad, President Perez Molina has announced interested in its recovery.

The president of Guatemala announced that investors, who as yet have not been identified, would be willing to bear the cost of debt that the State has with company "Ferrovías", calculated at more than $11 million.

Guatemala: Korean Company agrees to Purchase Ferrovías

January 2012

Representatives from YooChang Construction announced an agreement to purchase 82% of the shares of the Railroad Development Corporation (RDC), owner of Ferrovías.

The announcement was made by the president of YooChang Construction on a visit to Guatemala, who next week will be holding a meeting with directors of the RDC for the purpose of defining the first payment agreement.

Guatemala Sells Railway to Koreans

May 2011

Representatives from the Korean companies Hyundai and Yoochang have announced an agreement with the current owner of the Railroad Development Corporation, and a total investment of $2,400 million.

The Korean companies Hyundai and Yoochang Corporation plan to invest in restoring the functioning of the railway linking the Pacific and Atlantic coasts , to create a land alternative to the Panama Canal.