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Information provided by the
Mexico Trade Commision - Proméxico's New York
Office.
Mexican economy,
maintaining a good performance: CEESP
The Economic Training Center of the Private. Sector
(CEESP) considers that at the beginning of the third
trimester of this year, the upturn of the Global
Indicator of Economic Activity (IGAE) in July, of
4,8%, elevates the expectations with respect to a
good performance of the Gross Domestic Product.
It exposes that the sector with greater contribution
to the indicator was the agricultural, with 8%, as
well as the renewed impulse of the manufacturing
sector, specially the one of the automotive industry,
which in August had a remarkable recovery as far as
exports.
CEESP indicates on its Executive Economic Analysis
that the sales of commercial establishments, that in
June had shown a fall, had a favorable behavior in
July, which generates a good perspective on the
evolution of the consumption.
The labor market stays in addition healthful,
although it will be necessary to hope that these
results are not contaminated with some unfavorable
effects coming from the outside, as the increase in
the international prices of some grains.
On the other hand, the increase of the non
underlying component of the inflation in the first
fortnight of September, of 1.66% , although puts the
Bank of Mexico (Banxico) in alert, it is feasible
that their effect is not greater, every time it
responds to originating seasonal factors of the
increase of prices in some agricultural products.
National market attracts
foreign financiers
North American financial institutions have turned to
Mexican market where they find huge opportunities to
place their resources and services, causing a
greater supply of credit instruments.
Renato Martinez Quezada, coordinator of Practical
Banking from Baker & McKenzie pointed that this
allows all sizes and kinds of businessmen to have
greater opportunities to have low interest loans, in
order to impel their business develop.
He also indicated that banking institutions are
watching a wide development on their investments in
small, medium and big companies, after taking care
of the biggest corporations.
This implies that companies as JP Morgan, GE
Capital, Wells Fargo and others that traditionally
used to work only with foreign companies, or used to
use this as a guarantee to support operations of the
Mexican commerce and industry; now are using other
credit instruments.
They pointed that at this time, foreign resources,
with more attractive interest rates than the ones
local institutions offer, are applied in the
construction of shopping centers, industrial
buildings, as well as for the purchase of raw
materials and other aspects required by the national
industry.
Investment of $200 million
pesos for the Port of Guaymas
For the 2007-2008 period, there is an anticipated
investment. of $200 million pesos to develop
infrastructure and to renovate the harbor terminal
in the Port of Guaymas, Sonora.
The Director of Integral Port Administration (API),
Jose Luis Castro, indicated that they will start
with the installation of the terminal for Mineral
bulks of Mittal Steel, which has required an
investment of $60 million pesos, and it is expected
to start operating in November 2007, to handle
gradually two million tons per year.
Also, the Center of Marine Traffic Control is built,
with an investment of $18 million pesos, trying to
accomplish the international rules for ships
reception, from which Guaymas received 580 in 2006.
In this ship reception, Guaymas handled 2.5 million
tons of products derived from petroleum.
On the other hand, there will be a contest for the
second stage for filling the bay, with a cost of $40
million pesos. This project must be finished by
December 31, 2007, since the first stage has been
finished already.
Ternium goes for Mexico
Ternium, the Latin American iron and steel giant
will increase operations in Mexico, where it already
concentrates 62% of its sales, after consolidating
Hylsa and IMSA.
Daniel Novegil, General Director of the group,
indicated that in Mexico they have their biggest
potential, since the country imports more than 4
million of steel tons yearly.
Ternium combines Siderar and Sidor (At Argentina and
Venezuela respectively) best practices to
consolidate the efficiency of its productive
processes and bets on the growth of the Americas,
and now is investing in Mexico to increase the
production capacity of hot rolled strip, in cold,
galvanized and painted, besides in products of added
value, such as covered pipe, panels, sheets and iron
straps.
“In all these, we have an important growth, and
Mexico is the country where we believe we have the
bigger space to supply needs that are being taken
care of from very remote origins” assured Novegil.
Ever since Ternium arrived into Mexico, the total
investments this year adds to US$371 million.
The total investment for 2006 was US$131 million and
US$241 million for 2007.
The most important investment, until now, is in a
new furnace at Hylsa’s mill no.1, with a cost of
US$80 million, that will increase the capacity in
400 thousand tons per year, and this just started on
September 11th.
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