Mexico's Digital Policy Push, Climate Funding, Major Investments

In this week's roundup, as nearshoring trends surge, Mexico's industrial leaders push for a digital industrial policy to capitalize on the surging nearshoring trends. Moreover, the Green Climate Fund (GCF) has greenlit US$164.6 million for two major climate initiatives in Mexico, aiming to improve resilience in the Balsas watershed and significantly cut CO2 emissions. 

Meanwhile, Saint-Gobain is making waves with its acquisition of OVNIVER Group, expanding its footprint in the global construction chemicals market. Maxion Structural Components is investing US$69.7 million to expand its Coahuila plant, boosting local production and creating jobs.

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Private Sector Needs Digital Industrial Policy to Succeed

Mexico's industrial leaders say the country needs a digital industrial policy to capitalize on nearshoring. The National Institute for Industrial Development and Digital Transformation (INADI) and ECLAC stress that such a policy is crucial for technological advancement and sustainability. The Business Coordinating Council (CCE) also proposes a plan to boost GDP, support digital transformation, and address infrastructure and gender gaps.

GCF Approves US$164.6 Million for Climate Projects in Mexico

The GCF approved $164.6 million for climate projects in Mexico. The BALSAS project, with $39.5 million, will enhance resilience in the Balsas watershed, benefiting 3 million people and reducing 3.9 Mt of CO2 over 20 years. In a recent meeting, The GCF also approved US$1 billion for 15 additional projects worldwide, expanding its portfolio to 270 projects with US$58.7 billion in total funding.

CENACE, Huawei Launch 10 Gbps Network For Mexico's Power Grid

Mexico's National Energy Control Center (CENACE) has teamed up with Huawei to implement a 10 Gbps Smart Power Campus Solution, enhancing its communications network. This upgrade improves network stability, security, and efficiency, crucial for managing Mexico's National Electricity System. The new infrastructure enables CENACE to handle the growing electricity demand and ensure reliable power supply across its 11 work centers.

Saint-Gobain Acquires OVNIVER Group to Expand in Mexico

Saint-Gobain has agreed to acquire OVNIVER Group, a leading construction chemicals company, for US$815 million. This acquisition aims to strengthen Saint-Gobain’s position in the global construction chemicals market, boosting combined sales to US$7.24 billion across 76 countries. The deal, expected to close in the first half of 2025, aligns with Saint-Gobain’s strategic plan and is fully financed in cash.

Maxion Structural Components Invests US$69.7 million in Coahuila

Maxion Structural Components, a Brazilian manufacturer, will invest US$69.7 million to expand its Plant 3 in Coahuila, Mexico. The project will boost production capacity and create 500 new jobs. The expansion aligns with Coahuila's efforts to capitalize on nearshoring opportunities and strengthen the region’s industrial base.

Edgewell Invests US$110 Million in Aguascalientes

Edgewell will invest $110 million to build a new manufacturing facility in Aguascalientes, creating over 1,300 jobs. Set to begin operations in 2025, the plant will enhance economic ties between Mexico and the U.S. and leverage Aguascalientes’ skilled workforce, public safety, and strong state support.