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
We’re still alive, trying to punch our way out of this rueful economic funk. Here are some reports on recent and upcoming investment culled from local media:
- Automotive: Truck maker Daimler Vehículos Comerciales is reporting that it has doubled production from 35 to 70 units per day at its Saltillo plant over the past three months. The company is investing US$300 million in its plants in the states of Coahuila and Mexico to increase truck production in anticipation of a recovery in demand in the United States in 2010.
- Retail: Retail and real estate group Grupo Gigante recently opened its 200th Office Depot store in Mexico, and projected overall sales growth of 8-9% for 2009 across its formats, despite the steep recession. Gigante projected total investment in Mexico this year at over US$100 million, with two shopping malls under construction and plans to begin work on another in Acapulco.
- Mining: Mexican mining firm Piero Sutti announced the discovery of potentially colossal lithium deposits that could make Mexico one of the world’s largest producers of the metal in the future. Various international manufacturers of electronic equipment have reportedly expressed interest in potentially sourcing lithium from the Piero Sutti mine.
- Tourism: Hotel operator AMResorts recently inaugurated a new resort and spa in Cancun with following investment of US$117 million. The hotel group is reportedly exploring opportunities to build or acquire hotels in Cozumel, Playa Mujeres and other locations in Mexico’s south eastern state of Quintana Roo.
- Hospitality: Hotel operator InterContinental Hotels Group announced ambitious plans to invest US$550 million over the next three years to open 58 new hotels in Mexico. The plans reportedly include the strengthening of the brands Holiday Inn and Holiday Inn Express in Mexico, InterContinental’s fourth largest market.
- Electronics: Japan-based electronics manufacturer Yokogawa inaugurated a new manufacturing plant in the State of Mexico, just outside Mexico City. The US$20 million facility is set to produce process control devices, current converters and other electronic equipment.
- Airports: Grupo Aeroportuario del Sureste (Asur) is nearing completion of major upgrades to the international airport at Cancun. Projects included in the US$67 million upgrade include the construction of a second runway, a control tower and a connecting bridge.
- Automotive: Ford de Mexico is nearing completion of a massive US$3 billion rehabilitation of its former manufacturing plant in Cuautitlán, State of Mexico. The remodeled plant is planned to begin large scale production of the Ford Fiesta in the first quarter of 2010.