Tag Archives: refining

Mexico goes all-in on refining

Mexico’s state-owned national oil company Petróleos Mexicanos (Pemex) announced earlier this year that it plans to significantly reduce crude petroleum exports in 2022 and phase out crude exports altogether by the end of 2023. The news was reported widely in domestic and international media. We have criticized President Andrés Manuel López Obrador (AMLO) in this space, but in fairness we must acknowledge that he is clearly not afraid to launch bold and decisive new public policy initiatives, for better or worse. We continue to question, however, whether many of them are a good idea. Continue reading Mexico goes all-in on refining

Recent and upcoming investment in Mexico

Information collected from media reports over the past month:

  • Airports: Mexican airport operator Grupo Aeroportuario del Centro Norte (OMA) is projecting investment of approximately US$68 million in its international airport at the northeastern industrial city of Monterrey over the next five years, the company reported. Projects are expected to include modernization of infrastructure, technology upgrades and improvements to cargo handling and security systems. (El Financiero, January 21, 2016)
  • Composites: French aerospace manufacturer Safran plans to establish a new materials production plant in the central state of Querétaro, the state government reported. The US$100 million facility is expected to produce composite materials for rotor blades. (El Financiero, January 21, 2016)
  • Retail: U.S. DIY retailer The Home Depot plans investment of approximately US$80 million in Mexico operations in 2016, the company reported. Expansion plans include six new stores in the country, where the company projects double-digit sales growth this year. (Reforma, January 20, 2016)
  • Electricity: Mexican industrial conglomerate Grupo México is projecting investment of US$1 billion to expand its electricity generation capacity following the opening of the Mexican electricity market this month. The group currently operates two combined cycle plants and a wind park, and is evaluating the addition of natural gas-powered combined cycle plants, as well as solar and wind generation facilities going forward. (Reforma, January 20, 2016)
  • Automotive: Germany-based industrial conglomerate Thyssenkrupp will build two new manufacturing plants in Mexico at an estimated cost of US$125 million, the company announced. One site in the southern state of Puebla is planned to produce steering systems for Volkswagen, and a second site in the central state of Guanajuato will produce camshafts. (Reforma, January 21, 2016) Continue reading Recent and upcoming investment in Mexico

Recent and upcoming investment in Mexico

Information collected from media reports over the past month:

  • Retail: Mexican toy retailer Juguetron plans to open 10 to 15 new stores in 2016, the company reported. Projected investment for the expansion was not specified by the company, which currently operates 77 retail locations in Mexico. (El Financiero, December 18, 2015)
  • Aerospace: French aerospace manufacturer Messier-Bugatti-Dowty (MBD), a subsidiary of Safran, is in the process of executing investment of approximately US$14 million through 2018, the company reported. MBD is currently expanding capacity to manufacture aircraft landing gear at its plant in the central state of Querétaro. (El Financiero, December 15, 2015)
  • Transport: Mexican inter-city passenger bus operator Grupo ADO will invest approximately US$6 million to build a new eco-friendly passenger terminal in the southeastern city of Chetumal. The LEED-certified site is planned to include high efficiency technologies in areas such as energy consumption, potable water and CO2 emissions reduction, among others. (El Financiero, December 11, 2015)
  • Pet food: Swiss processed foods giant Nestlé inaugurated a new pet food plant in the central state of Guanajuato, the company reported. The US$220 million facility will produce Purina product to help Nestlé keep up with 10% annual growth in demand. (El Financiero, December 10, 2015)
  • Natural gas: Spanish natural gas utility Gas Natural Fenosa is projecting investment of approximately US$135 million to expand Mexico operations in 2016, the company reported. Fenosa plans to extend its natural gas transmission and distribution pipeline network to add new industrial and residential customers. (El Financiero, December 10, 2015) Continue reading Recent and upcoming investment in Mexico