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Volkswagen to invest US$1 billion in Puebla in 2015

Karla Salinas | 26.02.2015

Volkswagen Mexico will spend a billion dollars to expand its plant installed in the metropolitan area of Puebla, confirmed the state delegate of the Ministry of Economy, Juan Pablo Jimenez Concha.

Volkswagen Mexico will spend a billion dollars to expand its plant installed in the metropolitan area of Puebla, confirmed the state delegate of the Ministry of Economy, Juan Pablo Jimenez Concha.

During an interview, the federal official explained that the resources injected by the German company in the state are oriented to the production of one of the brand's models, which could begin later this year or early 2016.

"It's definitely an investment that will generate many more jobs, not only for the expansion of the plant, that if I'm not mistaken is specifically to produce a van; but it will attract more investments from other companies supplying Volkswagen "he explained.

Jimenez Concha said that the specific data regarding job generation, production levels and markets to be covered, shall be announced in due time by the German firm.

Although he clarified that there is not a specific date for when the formal announcement of the investment is made, he anticipated the presence of the Minister of Economy, Ildefonso Guajardo Villarreal, and state government authorities are expected.

He said the federal government has provided facilities to Volkswagen of Mexico in terms of support for growth achievement, and said that resources will be used to provide companies in Puebla with high-technology so they can become suppliers to the automotive business.

“Es una inversión que se logró atraer gracias a la confianza que tienen los inversionistas extranjeros en las políticas económicas del país y también a las facilidades que el gobierno del estado ha venido dando”, precisó.

"It's an investment that was successfully attracted thanks to the trust that foreign investors have in the country's economic policies and  facilities that the state government has been giving," he said.

Source: Translation of an article by El Financiero

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