No new investment this month

At the start of each month we usually post examples of new investment in Mexican industry, such as announcements of new manufacturing or processing plants and expansion of existing ones. For April 2020, we are disappointed to report that we have no such examples to share, due to the COVID-19 economic shutdown. We imagine that some companies are taking advantage of mandatory plant closures to clean, reorganize or upgrade their facilities, but we have not read about these so we are just going to have to accept our first shutout in the 11 years we have had the privilege of publishing this investment list. As with so many repercussions of COVID-19, you think you’ve seen it all, but it turns out you haven’t.

The media have done an admirable job covering the crisis, but for those of you who don’t follow Mexico closely, here is a very cursory summary of approximately where we are at the start of May 2020: Continue reading No new investment this month

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