Mexico in Brief
From Mexico in Brief Newsletter
GRUPO POSADAS WORKING ON 36 NEW HOTELS.
Grupo Posadas, a Mexican hotel owner and developer, is currently constructing 36 new hotels that are set to open within the next three years, representing a total investment of approximately U.S$1.1billion. With these new hotels, two of which will be located in the Dominican Republic –marking the company’s return to the international market- Grupo Posadas would reach a total of 32,000 rooms.
MORE WIND ENERGY INVESTMENTS TO COME.
Investments in the Mexican wind energy sector have continued to grow. An investment of approximately U.S.$1.3 billion is expected for the Mexican wind energy sector within this year, which would add around 1,200 megawatts of installed capacity to the currently installed capacity of 6,237 megawatts. The investment will be distributed among 11 different projects, which will be mainly located in the Mexican States of Oaxaca, Coahuila, Tamaulipas and Yucatan.
MEXICAN PRIVATE SECTOR PRESENTED BILLIONAIRE INVESTMENT PLAN.
The Mexican private sector has presented an investment plan of approximately U.S.$92 billion to the Mexican government. The plan contemplates around 275 different projects within the next four years, including power generation, natural gas storage, transportation, exploration and production projects, and would create more than 400,000 direct and indirect jobs. Mexican President Andres Manuel Lopez Obrador will be reviewing such plan with the Mexican Energy Minister in order to decide which projects will be part of the country’s energy plan.
INVESTMENTS IN NUEVO LEON’S RESTAURANT SECTOR KEEP INCREASING.
The restaurant sector of the Mexican State of Nuevo Leon will invest approximately U.S.$85 million within this year, expecting the opening of around 2,500 new businesses. This investment represents a 12% increase compared to last year, when 2,700 new restaurants opened in Nuevo Leon to sum 21,100 restaurants by the end of the year- A similar growth is expected in 2020.
PROMOTORA IDEAL TO LAUNCH NEW FIBRA E.
Mexican infrastructure company Promotora del Desarrollo de America Latina, also known as Promotora Ideal, is planning to issue a public offering of approximately U.S.$1.4 billion this year. The public offering will be issued through a Mexican real estate investment trust known as Fibra E, which is an investment vehicle similar to a U.S. Master Limited Partnership, which will invest in Mexican entities whose primary income derives from energy and infrastructure activities.
XCARET TO CONCLUDE HOTELS AND THEME PARK AMID PANDEMIC.
Mexican hotel and theme park developer Grupo Xcaret will invest approximately U.S.$225 million this year for the conclusion of its hotels and theme parks such as the Xibalba Reserve. Such reserve, expected to open in December 2020, will include a circuit of 10 cenotes and would be easily accessible via the Mayan train currently in development stages. Despite the COVID-19 pandemic, Grupo Xcaret is still expecting its flow of visitors to increase in 5%, aiming to close this year with approximately 4.2 million users.
FEMSA ANNOUNCED MAJOR INVESTMENTS.
Mexican multinational beverage and retail operator FEMSA announced an investment of approximately U.S.$1.5 billion within this year, 60% of which will be invested in Mexico. Such billionaire investment would create approximately 41,000 direct jobs within the next three years. FEMSA also announced that it reached an agreement with Waxie Sanitary Supply and North American Corporation, both family-owned corporations specialized in the supply of cleaning products, to incorporate a new company in which FEMSA will hold a majority stake, investing approximately U.S.$900 million.
CREDIJUSTO RAISES U.S.$100 MILLION TO BOOST LOANS AMID COVID-19.
Mexican fintech startup Credijusto, an online lending platform offering credit to small and medium enterprises in Mexico, received a cash infusion of U.S.$100 million from Credit Suisse Group, to help it extend more loans to small and mid-sized businesses in Mexico, as banks gauge how to respond to the impact of the coronavirus.