Public works projects like the Conejos Medanos water pipeline have been a boon to Grupo Carso’s bottom line, according to the company’s annual reports.
Mexico’s largest conglomerate has four strategic divisions: commercial, industrial, energy and infrastructure and construction.
It’s this business, along with his telecommunications firm, that underpins the wealth of Mexico’s richest man, Carlos Slim.
Slim made a fortune in 1990 when he bought up Teléfonos de México after the Mexican government privatized the national telephone company. Grupo Carso is Slim’s global conglomerate that forms an umbrella over everything from construction to retail.
Carso runs the ubiquitous Sanborn’s chain of restaurants and department stores in Mexico. The company produces telecommunications, automotive and many other products; it builds highways, pipelines, tunnels and airports; it drills oil wells and transports natural gas.