Recent and upcoming investment

Reports on some recent and upcoming investment collected from the local business media:

  • Retail: Grocery and general merchandise retailer Grupo Chedraui revealed plans to double its stores in Mexico to 280 in the coming years.   The chain, now third largest in its sector in the country, has grown rapidly in recent years and currently operates 143 retail locations.
  • Logistics: Mexican logistics and transport firm Grupo Transportación Marítima Mexicana (TMM) will begin construction in 2011 on a new multimodal terminal at the Port of Tuxpan, on the coast of the Gulf of Mexico.  The US$350 million facility is planned to handle liquid, solid and container cargo.
  • Energy: Eoliatec de Mexico, subsidiary of Spain’s Eolia Renovables, signed contracts with communal farmers in Jalisco helping to clear the way for the development of the state’s first wind farm.  The firm projects investment of US$185 million in the electricity generation facility with a capacity of 60Mw.
  • Manufacturing: Brazil-based Embraco, a manufacturer of refrigeration compressors, announced plans to begin manufacturing at a new plant in Apodaca, Nuevo Leon in 2011.  The US$90 million investment will allow the company to serve Mexico’s refrigerator manufacturers via domestic production, in addition to exporting to the United States and Canada.
  • Biofuel: A new bio-diesel plant is currently under construction in the southeastern state of Chiapas, set to begin production in early 2011.  The US$3.5 million dollar facility, financed jointly by various federal government agencies, will use locally grown African palm and jatropha to produce diesel fuel to supply public transportation systems in the cities of Tuxtla Gutierrez and Tapachula in the state.
  • Manufacturing: Industrial gas maker Praxair initiated production at a new air separation unit at its existing facility in San Nicolas de la Garza, outside of Monterrey.  The plant operated by the U.S.-based company’s Mexican affiliate, Praxair México, serves the industrial gas needs of a variety of clients in northeastern Mexico.
  • Real Estate: Spanish banking group Santander announced it will build a new corporate office building in downtown Monterrey.  The US$40 million project, set to begin construction in early 2011, will become the city’s tallest building.
  • Metal forming: Canadian-owned Troquelados de Queretaro inaugurated a new die cutting plant in the central state of Queretaro.  The firm invested US$12 million in the facility, which will produce parts principally for the region’s automotive industry.
  • Automotive: Italian tire maker Pirelli is projecting investment of US$210 million in new production facilities in Guanajuato, Mexico over the next five years.  The leading tire maker, which currently operates eight manufacturing plants in Mexico, will produce tires for OEMs in the area as well as for the aftermarket.
  • Automotive: Neaton Auto Mexicana, subsidiary of Japanese autoparts maker Neaton Auto Products, will invest an initial US$8.5 million in land and construction to build a new manufacturing facility in Queretaro in 2011.  The plant is planned to produce air bags for Nissan, Honda and Toyota auto makers in Mexico.
  • Nanotechnology: Nuevo Leon’s growing nanotechnology cluster will be further strengthened by the addition of new facilities at the Technological Research and Innovation Park (PIIT) located outside Monterrey.  Construction planned to begin imminently will create new infrastructure for the Institute of Electricity Research (IIE), the Center for Mathematical Research (CIMAT), the Ensenada Center for Scientific and Higher Education Research (CICESE) and the Nuevo Leon Technology Institute.  The area’s nanotechnology cluster currently consists of 38 companies or organizations and is projected to grow to 50 over the next two years.
  • Food processing: Mexican industrial baking giant Grupo Bimbo agreed to a US$959 million acquisition of the fresh bakery operations of Sara Lee Corp.  The takeover, expected to be completed in the first half of 2011, will make Bimbo the largest industrial baker in the United States.
  • Coatings: Mexican coatings multinational Comex revealed plans to invest up to US$100 million to construct at least three new production plants in 2011.  The company will distribute the investment among facilities in Mexico, Central America and Canada.
  • Telecommunications: Mexican retail bank Banorte announced it will build a major new call center in Monterrey in 2011.  The US$80 million project will allow the company to consolidate its telephone and internet-based customer service operations in one location.
  • Retail: Mexico-based department store chain Sanborns plans to invest up to US$40 million to open 10 new retail locations in 2011.  The company, which currently operates 192 stores in Mexico, Panama and El Salvador, also confirmed it is considering opening a store in New York.
  • Automotive: Automaker Chrysler de Mexico inaugurated a new US$570 million manufacturing plant in the northern city of Saltillo.  The new facility, the company’s sixth in Mexico, will produce motors for Chrysler, Dodge and Jeep vehicles.
  • Real Estate: Commercial real estate developer Gigante Grupo Inmobiliario (GGI) inaugurated a new shopping center in the State of Mexico built at a cost of US$67 million.  Since selling its Gigante grocery store chain to former rival Soriana in 2007, Gigante has become active in mall development and is beginning to undertake residential development as well.
  • Retail: DIY retailer The Home Depot announced plans to open seven new stores in Mexico in 2011, expanding their total number of locations in the country to over 90.  The company projects investment of approximately US$120 million next year between new stores and maintenance for existing stores.

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