Starting in the late nineteenth century, Mexico was one of the first Latin American countries to promote railway development, and the network covers . The Secretary of Communications and Transport of Mexico proposed a high-speed rail link that will transport its passengers from Mexico City to Guadalajara, Jalisco. The train, which will travel at , will allow passengers to travel from Mexico City to Guadalajara in just 2 hours. The whole project was projected to cost 240 billion pesos, or about 25 billion US$ and is being paid for jointly by the Mexican government and the local private sector including the wealthiest man in the world, Mexico's billionaire business tycoon Carlos Slim. The government of the state of Yucatán is also funding the construction of a high speed line connecting the cities of Cozumel to Mérida and Chichen Itza and Cancún.