Mexico Dissolves Fonatur Tren Maya Company

MEXICO CITY — The Government of Mexico has published a resolution from the Ministry of Finance and Public Credit (SHCP) authorizing the dissolution and liquidation of the majority state-owned enterprise FONATUR Tren Maya, S.A. de C.V.

The company was created in 2018 by the government of then-President Andrés Manuel López Obrador. It was responsible for the construction and operation of railway infrastructure in the southeast of the country, the Tren Maya project, one of the most important initiatives of the previous administration.

The resolution states: "The deincorporation through dissolution and liquidation of the majority state-owned enterprise named FONATUR Tren Maya, S.A. de C.V. is authorized," based on its corporate bylaws and applicable laws.

What Will Happen?

The liquidation process has now begun, with a maximum term of 12 months, counted from July 17, 2025.

The Institute to Return to the People What Was Stolen (Indep) will be in charge and will act as the liquidator with broad legal powers. Its responsibilities include the administration of liabilities, accountability, the preservation of labor rights, and the concentration of remaining resources in the Federal Treasury.

Why Is Fonatur Tren Maya Being Eliminated?

The decision was based on the fact that the company ceased to fulfill the objectives for which it was created during the previous administration. In the words of the resolution itself: "The Ministry of Tourism (Sectur), in its capacity as the coordinating sector agency, considered that FONATUR Tren Maya, S.A. de C.V., has ceased to fulfill the purposes for which it was created."

The document states that the liquidation process contemplates that the labor rights of the personnel will be fully respected, including the corresponding indemnities, and that no additional resources will be authorized for the liquidation, as all expenses will be covered by the company's authorized budget.

The federal government seeks to conclude the legal existence of the commercial society, whose management and resources will pass to the control of the INDEP, under the supervision of the Ministry of Anti-Corruption and Good Government.

And the Tren Maya?

On August 4, President Claudia Sheinbaum signed a decree to instruct the transfer of the Tren Maya from Fonatur to the company held by the Ministry of National Defense (Defensa, formerly Sedena): Tren Maya, S.A. de C.V.

The change is in process and must be completed this year, 2025. Fonatur will only continue to exist for the administrative and legal matters it is responsible for closing.

It is worth mentioning that the Tren Maya project encompasses more than just the trains and their railway lines; it administers hotels, tourist complexes, and even archaeological sites alongside the National Institute of Anthropology and History (INAH).