Recent and upcoming investment in Mexico

Information collected from media reports over the last month:

  • Logistics: Mexican industrial warehouse operators IRESA and Basal launched a joint venture called Qualianz, the companies reported. The US$70 million venture offers cold and dry storage at 28 locations in support of the food industry cold chain in Mexico. (El Financiero, March 18, 2020)
  • Telecommunications: Mexican cable television, telephone and internet service provider Megacable reported plans to invest approximately US$400 million during the current year. Programs include installation of fiber optic infrastructure and upgrades to their streaming platform and broadband internet services. (Reforma, March 16, 2020)
  • Sports: Mexican hotel operator and real estate developer Mundo Imperial increased its projected investment in a new tennis arena in Acapulco to US$15 million. The 10,000 seat Arena MIA complex is currently under construction and scheduled to open in early 2021. (Reforma, March 12, 2020)
  • Healthcare: Mexican private hospital operator Grupo Angeles plans to establish a new upscale hospital in Mexico City, local media reported. The US$65 million project will remodel an existing building which will be fully equipped with latest-generation medical equipment. (El Financiero, March 11, 2020)
  • Mining: Mexican mining firm Industrias Peñoles plans to open three new mines in the country this year, the company reported. The US$850 million expansion of operations will boost production of silver and other metals. (El Financiero, March 11, 2020) Continue reading Recent and upcoming investment in Mexico

Mexico City COVID-19 update March 26

Mexico City lockdown

March 26, 2020, day whatever of the COVID-19 global crisis, and we’re here to report that Mexico City is still hopping.  We’re not going to say that things are normal — they’re not — but we took a bike ride up Av. Alvaro Obregon in central Colonia Roma at lunch time today and the stores and restaurants were open with customers.  There’s no question that foot traffic is way down (vehicle traffic was fairly heavy), but there were people out there ordering their glasses of wine or beer while perusing menus at outdoor cafes. The media are telling us that this is not the case in most of Europe right now, so maybe it’s no wonder that the occasional tourist couple can still be seen stubbornly sticking out the remainder of their Mexico City vacation.   Continue reading Mexico City COVID-19 update March 26

Mexico City: What, me worry?

It’s Friday afternoon here in Mexico City’s popular Condesa nieghborhood and the joints are rockin’.  Goin’ round and round, one might even say.  Good Time Charlies and Janes are getting after it early for the Benito Juarez holiday weekend, and the beer, wine and mezcal are flowing unto them as a mighty river.  Naturally, we are led to recall that time when Jesus totally harshed the disciples’ mellow by announcing that there would be famines, pestilences and earthquakes in divers places (Matthew 24:7), adding that all these would be the beginning of sorrows (24:8).  In Mexico, famine is a fairly ongoing affair for large swaths of the population and we had the earthquake two years ago, so one could be forgiven for thinking that maybe it’s finally time for the pestilence, considering the current state of world affairs. Continue reading Mexico City: What, me worry?