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ECONOMY AND INDUSTRY

Canadian rail operator Canadian Pacific Railway reached agreement to acquire U.S.-owned carrier Kansas City Southern in a widely reported deal. The acquisition will create the first direct freight railway linking the three members of the USMCA North American free trade zone. (Reuters, September 15, 2021)
The Mexican subsidiary of Spanish bank BBVA raised its growth projection for the Mexican construction industry to 9% in 2021. BBVA Mexico’s head economist underscored however that the strong growth comes with respect to the sharp downturn in 2020 and should not be interpreted as full recovery for the sector. (Milenio, September 13, 2021)
Mexico became the world’s eighth largest exporter of food and agriculture products in 2020, the World Trade Organization reported. The country’s US$41 billion in agri-food exports were led by products such as beer, avocados, tequila, tomatoes and peppers. (El Economista, September 2, 2021). (La Jornada, August 18, 2021)

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Information collected from media reports over the past month:

Solar energy: British solar power developer Solarcentury plans to build two solar electricity generation plants in the western Mexican states of Jalisco and Nayarit, the company reported. The cost of the sites was not specified, but the firm reported a fund of approximately US$500 million earmarked to develop this type of project. (El Financiero, November 21, 2014)
Building materials: Chilean compressed wood materials manufacturer Masisa has initiated construction on a plant to produce medium density fiberboard (MDF) in the northern state of Durango. The US$132 million facility is projected to have output capacity of 7.8 million cubic feet of board per year. (Reforma, November 28, 2014)
Ports: Mexico’s Ministry of Communications and Transport (SCT) announced approximately US$1 billion in planned port investment in anticipation of new capacity demand generated by the administration’s energy reform. Ports at Matamoros, Ciudad del Carmen and Progreso, among others, will receive upgrades such as high-specification docking facilities to receive latest generation ships. (Mexican Business Web, November 24, 2014)
Waste management: Mexican waste management services provider Red Ambiental plans construction of a new operations base in the northeastern state of Nuevo León at a cost of approximately US$6 million. The site will provide maintenance services for the waste collection fleets and equipment of the city of Monterrey and three neighboring municipalities. (Reforma, November 18, 2014)
Automotive: Korean auto parts manufacturer Yura Corporation announced it will invest US$53 million to establish a production facility in the northern state of Coahuila. The plant, expected to produce electrical components for ignition systems, is targeted to begin operations in 2016. (Milenio, November 13, 2014) Continue reading Recent and upcoming investment in Mexico →