Published Date : Oct 28, 2015
A state-owned construction company in China has struck a deal with government officials in Jalisco, Mexico on Tuesday, to construct an industrial park in the western state. This project will mark China’s biggest investment in Mexico, the second largest economy in the whole of Latin America.
Americas chief of China Communications Construction Company Liu Yueping signed an MoU with Jalisco officials to launch a feasibility study that will zero in on a location and determine which companies will be chosen to participate in the project. The feasibility study will be done over a period of six months. Governor of Jalisco Aristoteles Sandoval said in a statement that this industrial park will turn out to be a major source of income and employment and will have a positive impact not just on the state of Jalisco but also the entire country. Jalisco has the talent, geographical zone, and human capital to emerge as a competitive segment in the international market.
The site of the industrial park will occupy an estimated 1,235 acres of the state capital Guadalajara and the cost of the land will be evenly divided between the Chinese government and the Jalisco government, officials said. They added that the Chinese will, however, cover the entire cost of the development of the park.
Jalisco was chosen by the company owing to its strategic location between central Mexico, which is well linked with the United States, and Manzanillio, the largest cargo port in Mexico. Aristotele Sandoval on Tuesday referred to the industrial park as a Chinese entry port into the United States.
The location of the park, the manufacturing firms involved in the project, and the amount of investment from the Chinese will be decided once the feasibility study in complete.