Iberdrola targets further 1 bln usd investment in Mexico until 2010
Iberdrola SA said it plans to invest a further 1 bln usd in Mexico until 2010, following investments of 2.8 bln over the past six years, bringing the total to 3.8 bln usd over 1999-2010.
In a statement, Iberdrola quoted chairman Inigo de Oriol as saying that the company will continue bidding for contracts from the Mexican state-owned electricity utility CFE over the next few years.
De Oriol was speaking with President Vicente Fox at the opening of two new combined cycle power plants in Mexico.
More: forbes.com
Iberia Lineas Aereas de Espana SA said it has no comment regarding conflicting press reports on whether it has presented a bid in the privatisation of Mexico's two main airlines, Mexicana and Aeromexico.
An Iberia spokeswoman said: 'I can't say whether we've presented an offer or not', while noting that 'Iberia wants to defend its leadership in Latin America and is willing to invest.'
Yesterday, Mexican state holding company Cintra said 21 bids had been submitted, ten for Aeromexico and 11 for Mexicana, though binding offers are not due until November.
According to La Gaceta de los Negocios, Iberia
ASK any leading candidate in next year's presidential vote what he would seek to achieve if elected and the list tends to be much the same. More foreign investment to boost Mexico's flagging energy output; cuts in over-generous public pensions; a more efficient, “adversarial†judicial system modelled on America's; and of course, better education.
This is a contest not of ideas, then, but of personalities and party machines. Whoever wins, he is unlikely to enjoy a congressional majority. So one of the most important qualities in a candidate, besides the strength of the party apparatus backing him, is his perceived
Mexico's foreign direct investment falls
Foreign direct investment in Mexico was US$7.46 billion (euro6.13 billion) in the first half of this year, the Economy Department said Friday.
The amount was below the US$10.29 billion (euro12.73 billion) reported in the like 2004 period, when the equity buyouts of local bank BBVA-Bancomer and cement company Holcim Apasco by their parent companies boosted investment.
By excluding those inflows from the comparison, FDI was 8.3 percent higher than in the first six months of 2004, the Economy Ministry said in a statement.
Of the US$7.46 billion in first-half FDI, US$2.12 billion (euro1.74 billion) was in new investment, $2.4
Mexico targets loggers in battle over butterflies
With assault rifles over their shoulders and body armor strapped to their chests, Roberto Paleo and his 17 officers are among the world's most heavily armed park rangers. Yet they guard one of nature's most delicate creatures -- the monarch butterfly.
The rangers say they need the weapons to protect the winter nesting grounds of millions of orange and black winged butterflies from armed gangs of illegal loggers in the Monarch Butterfly Biosphere Reserve.
The monarchs are not listed as endangered, but scientists say deforestation could threaten their existence.
Although a single butterfly can spend its
UPDATE 1-Mexico gross fixed investment up 8.3 pct in May
Mexican gross fixed investment, a measure of spending on machinery, equipment and construction, rose 8.3 percent in May from the year-ago period amid expectations of export growth, the government said on Monday.
The number was higher than expected by analysts, whose median estimate was 7.75 percent in a Reuters poll.
Mexico's government expects exports to grow at least 10 percent this year, led by oil but including solid growth in the manufacturing sector despite increasing competition in U.S. markets from China.
Investment in imported machinery and equipment, up 16.1 percent year-on-year, accounted for the
Mexico Gains In Foreign Investment Confidence - Survey
Mexico's attractiveness as a destination for foreign direct investment rose this year, but the country remained outside of the top 10 for the second straight year, global consulting company AT Kearney said Wednesday.
Mexico placed 16th on AT Kearney's 2005 FDI Confidence Index, up from 22nd in 2004. In Latin America, only Brazil was above Mexico, rising to seventh place from 17th a year ago.
AT Kearney vice president Ricardo Haneine said at a press conference that investment expectations for the manufacturing sector, including assembly-for-export maquiladora plants, was the main cause of
Katrina Targets Gulf of Mexico Oil
As hurricane Katrina gathered speed and strength to level 5, major oil companies have announnced production shut-downs in the Gulf of Mexico region. The region produces 1.5 million barrles of oil per day and 10 billion cubic feet of natural gas. The potential landfall on Monday morning near New Orleans may cause severe weather conditions in and aroud the city.
Katrina, the fourth hurricane in a season of eleven Atlantic coast tropical activities, is on its way as Category 5 hurricane to somewhere close to New Orleans, Louisiana. Katrina, hurricane category one, managed to down power
DaimlerChrysler upgrades Mexico plant
DaimlerChrysler AG said Wednesday its Toluca facility will have the capability to build more than one model on its assembly line as part of the automaker's $1 billion investment in its Mexican operations.
In addition to enhancing the Toluca plant, which currently builds the Chrysler PT Cruiser, the funds will help create two supplier parks and further operational improvements, the company said.
The supplier parks, to be built near the Toluca facility, will be jointly funded and will make head liners, cockpits, front-end modules and front and rear suspensions.
The bulk of the investment will take place in
Construcciones y Auxiliar de Ferrocarriles SA has won the bid to construct and operate a light rail network in Mexico City, with an investment totalling around 510 mln eur, El Pais reported, citing the Mexican transport authorities.
CAF beat Alstom for the contract, the newspaper noted.
The new rail network will be operational in Oct, 2006, El Pais added.
Source: forbes.com
UPDATE 1-Fitch sees Mexico ratings weathering elections
Fitch Ratings said on Wednesday that Mexico's July 2006 presidential election, which Wall Street fears could bring instability, is unlikely to cost the country its investment grade status.
Wall Street investors have particularly questioned whether leftist front-runner Andres Manuel Lopez Obrador would make a "market-friendly" fiscally prudent president.
"In Fitch's view, unless the new administration departs significantly from the current policy framework, Mexico's investment-grade rating should not be affected," Fitch said in a statement.
Fitch, which considers countries with a rating of 'BBB-' and above to be investment grade, rates Mexico's foreign and local currency debt
