Information collected from media reports over the last month:
Greenhouse agriculture: Mexican agricultural producer Hortigen Produce reported plans to invest approximately US$80 million in greenhouse operations in the central state of Querétaro over the next four years. Projects include the addition of 97 hectares (240 acres) of pepper production utilizing hydroponic techniques. (El Economista, February 28, 2018)
Mining: Mexican mining firm Fresnillo, a subsidiary of Industrias Peñoles, plans investment of US$755 million during the current year, the company reported. Resources will support operations in silver extraction, zinc refining, and dynamic leaching and pyrites plants. (El Financiero, February 28, 2018)
Beverage: Netherlands-based beer brewer Heineken inaugurated its most efficient plant worldwide in the northern state of Chihuahua, the company reported. The US$500 million site makes use of latest technologies in areas such as water efficiency, energy conservation and recycling of raw material byproducts. (Reforma, February 28, 2018)
Retail: Mexican grocery and general merchandise retailer Soriana plans investment of approximately US$160 million this year to convert stores from its Commercial Mexicana format to its Soriana and Mega formats. Soriana purchased 143 Commercial Mexicana stores from Controladora Commercial Mexicana in 2016. (El Financiero, February 27, 2018)
Electricity: Spanish energy infrastructure developer Iberdrola reported plans to invest US$1.7 billion in new electricity generation projects through 2022. New plants are likely to include natural gas powered combined cycle generation as well as renewable energy such as solar or wind. (El Financiero, February 22, 2018)Continue reading Recent and upcoming investment in Mexico→
We recently posted a brief review of some of the key reforms already implemented or proposed under the administration of recently elected Mexican President Enrique Peña Nieto. The most highly anticipated, controversial and sure to be hotly disputed of these initiatives, the president’s energy reform proposal, was finally presented to Congress on August 12. In the long run-up to the presentation of the official proposal, the conservative opposition National Action Party (PAN) presented its own energy reform program, and the leftist opposition Party of the Democratic Revolution (PRD) presented its alternative proposal shortly after the government made its presentation to Congress. Continue reading Mexico energy reform proposal brings high hopes and some skepticism→
Petroleos Mexicanos (Pemex) and Mexico’s energy sector in general are bound to evolve in the next six years. That was one of Mexico’s newly elected president Enrique Pena Nieto’s seven campaign promises. To embody that change, EPN is counting on two new leaders at the head of the ministry of Energy (Sener) and Pemex.
The new energy minister, Pedro Joaquin Coldwell, is a 62-year-old seasoned politician. A long-time member of the PRI, Coldwell has occupied a variety of positions inside the party and has served as local and federal deputy and senator for the state of Quintana Roo.
On the other hand, 37-year-old Emilio Lozoya Austin has been at the head of private companies and investment funds, as well as Director for Latin America at the World Economic Forum. Except for his past stint as analyst at Mexico’s Central Bank, Banco de Mexico, Emilio Lozoya has no real experience in government. However, he is the son of a former energy minister under Carlos Salinas de Gortari, Emilio Lozoya Thalmann.
Though their profiles strongly differ – Coldwell, the experienced politician specialized in tourism and development, and Lozoya, the young financial shark – they have one thing in common: they are new to the energy sector. That could be seen as a weakness, as critics already warn of the privatization of Pemex and the uncontrolled selling of national resources to transnational companies. Continue reading Reshaping the Mexican energy sector→