Grupo Carso Tanks 3.14 Billion Pesos after Line 12 Report

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Mexican billionaire Carlos Slim’s construction company Grupo Carso fell more than 3.14 billion pesos in value on Wednesday, June 16, following an investigative report from Norwegian firm DNV concluding that Mexico City’s deadly Line 12 metro collapse was caused by faulty construction.

Constructional faults like poor welding and missing bolts all contributed to the tragic crash that left 26 Line 12 passengers dead on May 3, laying part of the blame squarely on Grupo Carso’s poor workmanship.

With its key role in the building of Line 12, it came as little surprise that Grupo Carso’s value per share dipped after the report’s release to the lowest it had experienced since June 4.

As the group is now involved in the construction of Mexico’s controversial Tren Maya project, Slim now faces widespread scrutiny from the crash’s fallout, though he and his son after repeatedly declined to comment on their involvement in the situation.

For its part, Carso Infrastructure and Construction (CICSA) told La Jornada that “CICSA will not issue comments until the final expert opinion is known, given that what was presented today was preliminary.” 

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