Mexico in Brief
From Mexico in Brief Newsletter
MOTA-ENGIL RAISES U.S.$150 MILLION THROUGH CERPI.
Mota-Engil, Portugal-based group dedicated to various industrial sectors, placed a CerPI (or Certificado Bursátil Fiduciario de Proyectos de Inversión) aiming to finance its operations in Latin America, and raised approximately U.S.$150 million. Such amount is expected to become part of the funding for the investment of approximately U.S.$300 million that the company is executing in infrastructure, energy and tourism projects.
GRUPO POSADA WILL INVEST IN FIESTA INN EXPRESS.
Mexico-based hotel company Grupo Posadas will invest approximately U.S.$120 million in the construction of eight Fiesta Inn Express hotels in Mexico, which would be completed by 2019. The president of the company confirmed that at least one of them in the Bajio, highlighting the potential that there is in this concept of hotel chain in industrial cities, such as Leon, Queretaro and others in the country.
FUNDING FROM CHINA, INDIA AND SAUDI ARABIA WILL FINANCE HIGH-TECH MEXICAN PROJECTS.
With resources available for about U.S.$20 billion, about 20 Asian investment funds, mostly Chinese, will finance Mexican entrepreneurs in high-tech projects, revealed Hard Tech (HT) Ventures, a firm that acts as a bridge between Asian capital and new high-tech investment projects in Mexico.
DEACERO ANNOUNCES INVESTMENT IN ENERGY SECTOR.
Grupo Deacero, Mexico-based manufacturer and supplier of steel products, will invest jointly with Fisterra Energy, a company specialized in infrastructure investments in the energy sector, in a power generation project in the Mexican state of Guanajuato with a capacity of 1,350 MW, which will become one of the largest in Latin America.
CEMEX INVESTS IN ENERGY.
Mexican multinational building materials company, Cemex, has announced that it will enter into the solar energy sector for the first time in Mexico with a project in the Mexican State of Zacatecas in which it will invest approximately U.S.$320 million in the construction of a solar farm with a capacity of 370 MW.
TERNIUM’S NEW PLANTS: 90% COMPLETENESS.
Two of the three giant industrial plants built by Ternium Mexico in the Mexican State of Nuevo Leon, with an investment of approximately U.S.$1.4 billion, already show a 90 percent advance in their works. The plants, when operational at the end of 2020, will have the capacity to produce 4.1 million tons of hot rolled sheet, with steels of dimensions and degrees that Mexico has never produced before.
COX ENERGY ANNOUNCES INVESTMENT IN MEXICO.
Cox Energy, Spain-based company in the renewable energies sector, will invest in the next four years approximately U.S.$1.5 billion in the construction of power generation plants in the Mexican States of Campeche, Sonora, Estado de Mexico, Veracruz and Zacatecas, projects in which it will be working in partnership with other companies in the sector.
MILLIONAIRE INVESTMENT APPROVED FOR PROJECTS IN 2019.
Mexico’s National Hydrocarbons Commission, or CNH, approved drilling plans for five offshore projects with investment commitments totaling about U.S.$380 million and in which Talos Energy-led consortium, IO Oil & Gas Consulting (a joint venture between Baker Hughes, a GE company, and McDermott), Russia-based Lukoil, Italy-based Eni and Spain-based Repsol will participate. The projects are among more than 100 oil and gas contracts awarded by the CNH since 2015.