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Project number US MEXICO BRAZIL


CANADA ARGENTINA


Capex ($bn) US


MEXICO CANADA BRAZIL


ARGENTINA


LATEST INVESTMENTS


AUTOMOTIVE COMPONENTS ZFMAKESSOUTHCAROLINAMOVE Germany-based ZF Friedrichshafen, an automotive parts supplier, is to expand its plant in Grays Court, South Carolina, US. The $200m expansion will create 500 new jobs. The company will add a new produc- tion line for automatic transmission technology which will be opera- tional in 2023. It will serve the North American market.


CONSUMERELECTRONICS HISENSEOPENSINMEXICO China-based Hisense, a manufac- turer of electronic products, is to invest Rmb1bn ($154.6m) to build a new home appliance factory in Monterrey, Mexico. The new factory will cover an area of 250,000 sqm and will be put into operation in October 2021. It is the company’s second factory in the country.


COMMUNICATIONS TELEFONICAEXPANDSINPERU Telefonica del Peru, a subsidiary of Spain-based telecoms company Telefonica, has announced plans to expand its fibre-optic broadband network in Lima, Peru. The company is set to bring fibre-optic services to a total of 600,000 homes in Lima by the end of 2021.


FINANCIALSERVICES BNPPARIBASSHIFTSUSBASE French banking group BNP Paribas has announced plans to relocate and expand its CIB Functions office in


King of Prussia, Pennsylvania, to Wayne, Pennsylvania, US. The company is investing $18m to relo- cate to larger premises in Wayne, adding 4180 sqmof office space when it opens in quarter two of 2021. The project will retain 100 employees and see the hire of 300 additional full-time staff by 2024.


HEALTHCARE CAYMANSHEALTHEXPANSION Health City Cayman Islands, a healthcare provider and subsidiary of India-based Narayana Hrudayalaya, has announced it is expanding its operations and open- ing a new facility in the Camana Bay Development area of Grand Cayman, Cayman Islands. The new $100m facilities will span over an area of 12,140 sqmand will feature an advanced cancer centre. It is expected to become fully opera- tional in early 2023.


TRANSPORTATION& WAREHOUSING ENERGYHUBFORCOLOMBIA Puerto Solo, a wholly-owned subsidiary of US-based SeaOne Holdings, a midstream infrastruc- ture and logistics company, is investing $225m to develop a multi-use energy hub port project in Buenaventura, Colombia. The Puerto Solo Energy Hub Port Complex will provide natural gas, natural gas liquids, and pipeline infrastructure to store and deliver 1.8 million barrels of fuel to the country’s market.


This investment news and data has been provided by fDi Markets, a crossborder investment tracking service that is part of The Financial Times Ltd’s fDi Intelligence division (www.fdiintelligence.com)


STATS


AMERICAS GREENFIELD FDI INTOMANUFACTURING BETWEEN 2015AND2020 BY PROJECTNUMBER


500 1000 1500 2000 2500


0 Source: fDi Markets April/May 2021 www.fDiIntelligence.com


AMERICAS GREENFIELDFDI INTOMANUFACTURING BETWEEN2015AND2020 BY CAPEX


100 150 200


50 0 Source: fDi Markets


Americas E


Viewfromthe


videncesuggesting thateconomicglobali-


sationisgoingtopause,or re-balanceintoamore regional/continental


stanceinthenear-to-mediumterm, continuestomount.ThenewUS administrationhasindicatedthatpre- viouslyimplementedtariffsoncertain industriesandgoodsfromChina, Canadaandelsewhere willnotimme- diatelybelifted.Federal‘Buy American’procurementdirectives havealsobeenstrengthened. Throughexecutiveorder, presi-


dentJoeBidenhasordereda100-day supplychain reviewin strategic sectors related tosemiconductors, high-capacityandEVbatteries,phar- maceuticalsandcriticalminerals. Oftenoverlookedfromthissame order arefurther requirements for sectoral supply chainassessments to becompleted for defence, public health, informationandcommunica- tionstechnologies,energy, transpor- tationandagrifoodindustries. Examplescanalsobefoundin


bothCanadaandMexico,wherepoli- ciesandfundingsupportvaccine- nationalism,Covid recovery,andpro- domesticexpansion.Thepharmaceu- tical giantSanofiPasteur recently announcedthat it will buildanew $400minfluenzavaccine facility in Toronto, withgovernmentsupport, to bolsterCanada’sbiomanufacturing capacity.AndtheMexicancentral governmentis eagerly promoting public–privatepartnerships to stir corporate investment inenergyand infrastructure projects withantici- patedmultiplier effects. Incertain sectors, thesemicon-


ductor industryforexample, theUS domestication strategyisblooming. Whether similarsuccess willbefound in industries that aremorecost-sensi- tiveremainsunknown. WhileCovid-19 economicrecovery plans arein their early stagesinmostcountries, domesticcapacitybuildingismore important thanever inaworldwhere economicglobalisationhasbeen called intoquestion.Weshouldexpect morefrequentandvocalexpressions ofsupplychainsovereignty in the comingyears.■


Gregg Wassmansdorf is a senior managing director, consulting, at Newmark, a global commercial real estate services firm, and also a member of the Site Selectors Guild. Email: gwassmansdorf@ngkf.com


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