Mexico in Brief
From Mexico in Brief Newsletter
LARGE INVESTMENTS ARE EXPECTED IN THE MEXICAN STATE OF SINALOA.
With an investment of approximately U.S.$70 million of the federal and state government, as well as the private sector, the construction of the new Aquarium of the Sea of Cortés was announced, which will replace the current Mazatlán Aquarium. Additionally, Mexico-based hotel companies, Grupo ARHE and Grupo Posadas, will invest approximately U.S.$32 million in the construction of new Fiesta Inn and One hotels in Mazatlán.
GRUPO XCARET TO CONTINUE INVESTSTING IN THE MEXICAN STATE OF QUINTANA ROO.
Grupo Xcaret, Mexico-based sustainable tourism recreation company, will invest approximately U.S.$175 million in a new theme park called Xavage, and a 63-room boutique hotel. The investment will represent the largest investment of the group in a newly created park in Quintana Roo.
AMERICA MOVIL TO INVEST IN MEXICO.
Mexico-based telecommunications giant America Movil announced that it will invest approximately U.S.$8.5 billion in 2019 to achieve more coverage in wireless technology, optical fiber, as well as new technologies, such as 5G.
GRUPO MEXICO TO CONTINUE INVESTING IN THE MINING AND RAILWAY SECTOR.
Grupo Mexico, a Mexico-based mining company, will invest approximately U.S.$5.7 billion by 2020, focusing on capacity expansion projects, automated signage, infrastructure improvement and efficiency in its mining and railroad business in Mexico, Peru, United States of America and Spain.
IBERDROLA TO INVEST IN WIND ENERGY IN MEXICO.
Spain-based energy conglomerate Iberdrola will invest approximately U.S.$270 million in the construction of a wind power park in the Mexican State of Oaxaca, which will generate 200 MW of electric power, to be distributed in Central Mexico.
ENGIE TO INVEST IN THE EXPANSION OF ITS GAS SUPPLY NETWORK.
Engie, France-based multinational electric utility company, announced that it will invest approximately U.S.$70 million in the expansion of its supply network in the Mexican States of Yucatan, Campeche and Quintana Roo, with 16 additional kilometers of pipelines that will connect the Mayakan system with the national domestic gas distribution network.
REPSOL TO DEVELOP LOGISTICS PROJECTS IN MEXICO.
Spain-based energy company Repsol announced its participation in two infrastructure projects during 2020 for the storage and distribution of hydrocarbons, one of them in the Mexican region of Valle de México, with a storage capacity of 160 thousand barrels, and the second one in the Mexican State of Veracruz, with a storage capacity of 450 thousand barrels. The projects include capability for the import gasoline and diesel.
PEMEX AWARDS CONTRACTS.
Mexican state-owned national oil company Pemex assigned the first three major contracts under the administration of the new President and Federal government, seeking to reactivate the oil production, for consideration of an aggregate of approximately U.S.$1.4 billion. The contracts were assigned directly by Pemex and are for land and shallow water drilling in the Gulf of Mexico, as well as for the rental of platforms.