MEXICO CITY, May 8 (Reuters) – Solar International Core Canada signed an agreement with the central Mexican state of Hidalgo \u200cto invest $2 billion in building a factory for active pharmaceutical \u200cingredients, Mexican and Canadian authorities said on Friday.<\/p>\n
The announcement came as Mexican Economy Minister \u200bMarcelo Ebrard visited Canada on a two-day trade mission alongside hundreds of Mexican business representatives, during which Canada said over 10 memorandums of understanding were signed.<\/p>\n
According to Mexican authorities:<\/p>\n
\u2022 As part of the MOU \u200csigned between SICC’s CEO \u2060Babak Arefpour and Hidalgo State Secretary for Economic Development Carlos Henkel, SICC said it would set aside $70 million \u2060to buy a plot of land in Zapotlan, where it plans to build the plant.<\/p>\n
\u2022 Process Research Ortech Inc also agreed to consider \u200binvesting $380 million \u200bin a battery materials processing \u200bplant in Puebla state.<\/p>\n
\u2022 Separately, \u200cINTE Modular said it was considering investing up to $360 million in a modular housing plant in Mexico’s southern Chiapas state.<\/p>\n
\u2022 Sustainable Agave Holdings Ltd also said it was considering investing $100 million in an agave pulp plant in Jalisco state.<\/p>\n
\u2022 “We ended the day with a $2 billion \u200cinvestment for Hidalgo. That alone made \u200bthe entire mission worthwhile, although we are \u200bseeing many more results,” \u200bEbrard said in a statement.<\/p>\n
Canada’s government added that:<\/p>\n
\u2022 Mexico’s \u200cGrupo Bimbo, one of the \u200bworld’s top producers \u200bof baked goods, agreed to spend around $146 million to modernize its Canadian facilities.<\/p>\n
\u2022 During the mission, Ebrard and Canada’s minister in \u200bcharge of U.S. \u200ctrade, Dominic LeBlanc, discussed strengthening the U.S.-Mexico-Canada trade agreement, which \u200bis currently undergoing a review.<\/p>\n
($1 = 1.3676 Canadian dollars)<\/p>\n
(Reporting by \u200bSarah Morland; Editing by Tom Hogue)<\/p>\n","protected":false},"excerpt":{"rendered":"MEXICO CITY, May 8 (Reuters) – Solar International Core Canada signed an agreement with the central Mexican state…\n","protected":false},"author":2,"featured_media":37921,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[16345,17,16347,15532,16346,16344],"class_list":["post-37920","post","type-post","status-publish","format-standard","has-post-thumbnail","category-canada","tag-active-pharmaceutical-ingredients","tag-canada","tag-development-carlos-henkel","tag-marcelo-ebrard","tag-mexican-economy-minister","tag-sicc"],"_links":{"self":[{"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/posts\/37920","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/comments?post=37920"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/posts\/37920\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/media\/37921"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/media?parent=37920"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/categories?post=37920"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/tags?post=37920"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}