Mexico in Brief
From Mexico in Brief Newsletter
CONTINUED ACTIVITY IN THE MEXICAN STOCK EXCHANGE.
Mexico-based real estate investment trust, Fibra MTY, will issue approximately U.S.$100 million through real estate trust certificates, or CBFIS, to acquire properties in the office and industrial buildings segment in the Mexican State of Chihuahua. Additionally, Nexxus placed a Development Capital Certificate, commonly knowns as CKD, for approximately U.S.$200 million to grant financing to medium-sized Mexican companies in growth.
ACTIS INVESTMENT FUND TO INVEST IN MEXICO.
England-based investment fund, Actis, announced the acquisition of InterGen’s business portfolio in Mexico, which includes six combined-cycle power plants and one wind project in Mexico, for approximately U.S.$256 million. The investment is part of Actis’ plans of investing approximately U.S.$3 billion in Latin America, approximately U.S.$1 billion of which is intended for Mexico.
SAVERGLASS TO INAUGURATE PLANT IN MEXICO.
Saverglass, the France-based premium glass bottle manufacturer, announced that its new plant under construction in the Mexican State of Jalisco, involving an investment of approximately U.S.$120 million, will begin its operations next June.
BAIC TO INVEST U.S.$1 BILLION IN MEXICO.
China-based enterprise and holding company of several automobile and machinery manufacturers, Baic, announced the investment of approximately U.S.$1 billion in a new plant to be built by 2020 in Mexico.
MERCADOLIBRE CONTINUES INVESTING IN MEXICO.
Argentina-based e-commerce company Mercadolibre announced that it will invest approximately U.S.$275 million in Mexico in 2018 for the construction of two new distribution centers and other related facilities.
BACANORA MINERALS TO EXPAND “SONORA LITHIUM” PROJECT.
Bacanora Minerales, a Canada-based mining exploration company, will invest approximately U.S.$420 million more in their major project named “Sonora Lithium”, which is a lithium carbonate pilot plant in Hermosillo, in the Mexican State of Sonora. The plant is expected to become one of the world’s main lithium deposits. Bacanora Minerals expects to use the output of this project to supply the electric cars and energy storage industries, and has disclosed already securing a supply agreement with Tesla Motors.
CENAGAS TO HOLD FIRST NATURAL GAS STORAGE TENDER.
The Centro Nacional de Control del Gas Natural, or CENAGAS, has begun taking steps for the preparation of Mexico’s first strategic natural gas storage tender, picking four depleted oil and gas reservoirs as candidate sites to be tendered. The tender is expected to kick-off by September and is expected to take up to six months. CENAGAS officials expect that these tenders will pave the way for a commercial gas storage market to emerge in Mexico.
RENGEN TO INVEST IN POWER PLANTS.
Rengen, the Mexico-based electric power plant developer, will invest approximately U.S.$400 million in eight new power-plant projects aimed to service industrial clusters in Mexico.
FIRST PRIVATE FARM-OUT DEAL SIGNED IN MEXICO.
Mexico-based, Jaguar Exploracion y Produccion agreed to sell a 50% stake of three onshore areas in Tabasco and Veracruz to Vista Oil & Gas for approximately U.S.$38 million, to become the first Mexican oil players to sign a private farm-out deal in Mexico’s oil sector without the participation of Pemex, the country’s national oil company.