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Hyundai and Yoochang deny plans to invest $2.4 billion in Guatemala railroad

Tuesday, May 24, 2011

US-based Railroad Development Corp. (RDC), which owns the Guatemalan railroad system, denied that it has any accord to sell the system to Korean company Yoochang.

At the same time, another Korean company, Hyundai, said that “it has neither studied or discussed any plan to reactivate the Guatemalan railroad system.” It added that reports that Yoochang and Hyundai plan to invest $2.4 million in the system have no foundation at all.

Original source (in Spanish): El Periódico