Iberdrola to Invest $1.75 Billion in Mexico's Electricity Generation
In a bid to strengthen its presence in the Mexican market, the Spanish firm Iberdrola has announced plans to invest a substantial $1.75 billion in the country's electricity generation sector. The investment, which will be channelled into the construction of new power plants, is a testament to Iberdrola's confidence in Mexico's economic stability and growth potential. During a meeting with President Vicente Fox, Iberdrola's president, Inigo de Oriol, expressed his company's commitment to continuing its investments in Mexico, highlighting the country's institutional stability and favourable business environment.
Key Takeaways:
- Iberdrola plans to invest $1.75 billion in Mexico's electricity generation sector, specifically in the construction of new power plants.
- The company's total investments in Mexico currently stand at close to $3.5 billion.
- Iberdrola's president, Inigo de Oriol, commended President Fox on the institutional stability achieved during his administration.
- The company is satisfied with its existing investments in Mexico and is keen to collaborate on the country's new power construction program.
- Iberdrola views Mexico as an attractive country for investment, citing its great business environment and growth potential.
Statistics:
- $1.75 billion: The amount Iberdrola plans to invest in Mexico's electricity generation sector.
- $3.5 billion: Iberdrola's total investments in Mexico, including the current investment plan.
- $1,000,000,000: The value of Iberdrola's current investment in Mexico, excluding the planned investment.
Sources:
- El Economista/Corporate Mexico by Internet Securities, Inc. via COMTEX, February 10, 2005