Auditors: $167 million misspent in Mexico airport project

FAN Editor

Mexican federal auditors say they have found $167 million in mismanagement and questionable expenses at a now-cancelled project to build a new Mexico City airport.

President Andres Manuel Lopez Obrador had been criticized for cancelling the $13 billion project, which was about half built. Lopez Obrador contends the project was unnecessary, mismanaged and environmentally questionable.

Continue Reading Below

The federal auditor’s office said in a report Wednesday that “there was no integrated plan for the project, which led to deficiencies and limitations.”

The office said only about $1.4 million of the misspent money had been recovered.

Corruption and mismanagement plagued many of the infrastructure projects started under Lopez Obrador’s predecessor, Enrique Pena Nieto.

Free America Network Articles

Leave a Reply

Next Post

Samsung's foldable smartphone is a 'game-changer' — but it won't be a profit-maker yet, analyst says

Samsung’s new foldable smartphone is a “game-changer,” but investors should not expect the new device to be a major contributor to the company’s profits this year, according to an analyst. The South Korean tech giant announced the new phone, called the Galaxy Fold, on Wednesday at a launch event in […]