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Chinese SOE to sign for a 100 MUSD deal on an Industrial Park In Mexico

Chinese SOE to sign for a 100 MUSD deal on an Industrial Park In Mexico

The Governor Alejandro Tello, Governor of Zacatecas Province,  and the Chinese SOE Gezhouba Group Corporation (CGGC) signed a framework agreement, which indicates the process to build and promote the future Zacatecas Industrial Park (PIZ), which will have an initial investment of 104 MUSD .

Gathered in the General Secretariat of Government, the Executive of Zacatecas and the Vice President of CGGC, Zhou Xing, signed this one-of-a-kind agreement, given that it is the first association that arises between a Chinese SOE and a Mexican State Government.

The objective of the agreement is to specialize Zacatecas within the automotive, aerospace and mechanical metal industry, generating by 2026 about 6,500 direct and 7 thousand indirect jobs, a fact that will align the entity with the strategic development of the entities neighbors.

For the above, Alejandro Tello said he believes in China and, reciprocally, thanked that this country also has confidence in the development of Zacatecas, since the construction of this new Park will mark a pattern in the economy of the region for decades, he said.

Carlos Bárcena Pous, Minister of Economy of the State, explained that Zacatecas has a strategic location at a national level, given that it is located less than 400 kilometers from three international airports, and it is close to six functional industrial parks; this, in a smaller radius to the 200 kilometers.

The authorities indicated that the universities are willing to adopt high quality programs to train young people specialized in the industrial field, while CGGC was in favor of establishing productive chains with local companies and thus strengthen the economy of Zacatecas.

The agreement came after Governor Tello's work tour in China during December 2017, where, through the General Director of Mexiconexión Miguel Hernández Delgadillo a proud partner and a representative in LATAM of China offshore and Invest In.

The estimations indicate that the culmination of the Zacatecas Industrial Park will have required a total investment of 300 million dollars, whose scope implies the arrival of more Chinese companies to the entity, within an area of ​​approximately 47.9 hectares.

 

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