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New industrial park in Nuevo León brings Chinese companies to Mexico
The first company to settle in the industrial park will be Hangzhou XZB Tech Co, an auto part maker and supplier for Volkswagen, representing an investment of 9 million dollars - Photo: Qilai Shen/EFE

New industrial park in Nuevo León brings Chinese companies to Mexico

12/12/2018
13:33
Sara Cantera
Mexico City
-A +A
Nuevo León's Ministry of Finance and Employment says goal is to attract around 100 Chinese companies

In order to attract more direct foreign investment, a group of investors is building the Hofusan Industrial Park in Salinas Victoria, Nuevo León.

The Holley Group, Futong Group, and the Santos family have invested 65 million dollars in the construction of the new industrial park, which aims to attract a potential direct foreign investment of up to 2 billion dollars from Chinese companies of different sectors.

The park is located 37 kilometers away from the city of Monterrey. The complex is meant to attract auto parts suppliers, electronics makers, IT experts, mechanical equipment, light industries, recycled energy, and new materials.

The first company to settle in the industrial park will be Hangzhou XZB Tech Co, an auto part maker and supplier for Volkswagen, representing an investment of 9 million dollars.

Another company that could establish itself in the industrial park is a multinational beer maker, though they are yet to sign the contract.

According to the Ministry of Finance and Employment in Nuevo León, the goal is to attract around 100 companies of Chinese origin during the next 10 years.

For the first stage, partners have invested 50 million dollars on the development of 516 acres, though the total area size is of 2,100 acres.

Manuel Montoya, general director of Clúster Automotriz in Nuevo León, commented that there are many Chinese companies interested in establishing themselves in the industrial park, though the arrival of a vehicle assembly plant is yet to confirm.

“Now, with the U.S.'s tariff restrictions, the Chinese will have to come manufacture here,” he stated.
 

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