The Mexican Government has decided to relaunch the bidding process for $3.75bn high-speed train contract that was scrapped in November 2014.

The government, which will reveal preliminary terms on 14 January 2015, said the tender will be open for 180 days with similar terms to the original one.

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Citing the government’s statement, Reuters reported that a supervisor will oversee the process to ensure the full transparency and legality of the process from the start of the bidding process.

"The project is expected to carry 27,000 daily passengers from Queretaro to Mexico City at a maximum speed of 300km/h."

French engineering firm Alstom and Canada-based transportation company Bombardier are planning to participate in the new tender.

Mexico’s Transport and Communications Ministry awarded a contract in November last year to Chinese-led consortium for the construction of a multibillion dollar high-speed passenger rail link between Mexico City and the central city of Queretaro.

The contract was cancelled after the government was accused of favouring the group consisting of China Railway Construction Corporation and CSR Corporation.

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The consortium was the only firm that submitted the bid for the tender to design, build, operate and maintain a 210km-long high-speed line.

The project is expected to carry 27,000 daily passengers from Queretaro to Mexico City at a maximum speed of 300km/h (186mph).

According to estimates, the project will produce 20,000 direct jobs and take 18,000 passenger cars off the road.

The Export-Import Bank of China (EximBank) is expected to finance 85% of the project’s costs.

The government also has plans for two other projects, including the construction of a line linking Mexico City with Toluca, as well as a rail track to Yucatan.