The Mexican legislation would give third-party companies access to the country’s existing rail networks, which were privatized in the late 1990s. The largest are Kansas City Southern de México and Ferromex (majority-owned by Grupo México and in which Union Pacific has a 26% stake). These two railroads combined move about 90% of Mexico’s rail traffic; KCS derives about 50% of its North American revenues from KCSM operations. The legislation is currently with the Mexican Senate for further discussion and a vote. Unlike Mexico’s current railway concession structure, the proposed legislation states that new concessions will be granted only to private companies that develop new infrastructure.