Mexico in Brief
From Mexico in Brief Newsletter
INTERPUERTO MONTERREY TO FORMALIZE 5 NEW PROJECTS.
Interpuerto Monterrey, a Monterrey-based industrial development financed by private investors, plans to raise approximately U.S.$150 million in investments for this year in five projects that would attract new companies from the food, automotive and manufacturing sectors from Asia, Europe and the United States of America. Once these investments are finalized, Interpuerto Monterrey will evaluate a second stage of expansion for the hub, in order to have inventory available for future clients.
RAILWAY COMPANIES WITH RECORD INVESTMENTS FOR THIS YEAR IN MEXICO.
Several railway companies and consortiums, such as Ferromex, Ferrosur, Kansas City Southern and Ferrovalle, are planning to invest approximately U.S.$688 million in various projects in Mexico for 2019, which would make it their largest investment of the last 10 years in this sector.
SANTANDER LOOKING FOR FULL OWNERSHIP OF MEXICAN SUBSIDIARY.
Spain-based multinational commercial bank and financial services company, Banco Santander, will launch an offer for approximately U.S.$2.9 billion to acquire up to all of the publicly-traded shares of its Mexican subsidiary, Santander México, with the purpose of obtaining more presence in the Latin American market that is in constant growth.
BHP TO INVEST IN PERFORATION IN THE GULF OF MEXICO.
Australia-based multinational mining, metals and petroleum company, BHP, has announced that it will invest approximately U.S.$256 million on the perforation of an additional valuation well in the Trion oil field in the Gulf of Mexico during the second half of 2019.
RADIO SPECTRUM TENDER TO BE HELD IN MEXICO.
The Federal Institute of Telecommunications (IFETEL) published on Monday the call for public tender to concession the use, exploitation and commercial exploitation of 40 MHz (megahertz) of radio spectrum, which will be used to provide the terrestrial complementary service of the mobile satellite service.
GLENCORE WINS CONTRACTS TO SELL COAL IN MEXICO.
Switzerland-based multinational commodity trading and mining company, Glencore, has been awarded 12 contracts with an aggregate value of approximately U.S.$520 million to supply 4.94 million tons of coal to Mexico, specifically to supply a CFE (state-owned Federal Electricity Commission) plant in the southwestern Mexican State of Guerrero.
IBERDROLA TO CONTINUE INVESTING IN MEXICO.
Spain-based energy giant Iberdrola announced that will maintain its investment plans in Mexico, and during the current presidential term, with or without electric auctions, the company expects to allocate resources for approximately U.S.$5 billion for wind, photovoltaic and gas generation plants, which would increase its installed capacity in Mexico to 15 thousand MW.
COMPANIES INVEST IN STORAGE TERMINALS IN MEXICO.
Chevron, U.S.-based multinational energy corporation, announced that it will invest approximately U.S.$700 million in infrastructure to import gasoline, including in key storage terminals for its operation. Additionally, Grupo Garel, Mexico-based company dedicated to the retail fuel market, will invest approximately U.S.$280 million in the construction of a storage terminal called “Huasteca Fuel”, which will be ready to operate on early 2020.
ARCA CONTINENTAL ANNOUNCES INVESTMENT.
Mexico-based beverage manufacturing and distribution company, Arca Continental, will invest approximately U.S.$684 million in this year, in different areas to improve its processes, grow its plants and expand its operations in different regions, including Mexico and U.S.