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The government of Mexico has awarded a contract to the Chinese consortium of China Railway Construction Corp. Ltd. to build a $3.7 billion high-speed rail system between Mexico City and the central city of Queretaro, the Mexican Transport and Communications Ministry announced earlier this week.The consortium was the only bidder for the 130-mile line, according to a report by Reuters. The Export-Import Bank of China is expected to finance 85 percent of the project's cost, according to the report.The project's $3.7 billion price tag includes building costs and five years of operation.
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