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Mexico Real Estate: $11 Billion Investment from Brazilian Oil Company

13 September, 2012

According to a recent
announcement by Mexico's Veracruz governor Javier Duarte,Brazilian oil giant
Petroleo Brasileiro,also known as Petrobras,is planning to invest at least
$11 billion in US dollars to fund exploration,production and refining projects
related to the country's oil industry between now and the year 2015. The governor
learned about the state-controlled oil company's plans during a recent trip to
Brazil where he met with a number of top officials,according to spokeswoman
Gina Dominguez.

According to Dominguez,much of
the money that will be invested will be put into developing petrochemical
plants and refineries throughout Mexico's Gulf states,but Petrobras also plans
to invest heavily in Mexico's Etileno XXI project in southern Veracruz,in the
port area known as Coatzacoalcos. Part of the reason Mexico was chosen for this
large investment revolves around the country's ability to provide a
highly-skilled workforce and reasonable regulations that encourage foreign
investment dollars.

Petrobras is planning to build an
ethanol processing plant in Coatzacoalcos for the Etileno XXI project that will
eventually be able to produce at least one million tons of ethylene and its
derivatives annually. As a further boon for Mexico,according to Dominguez the
new plant will be able to provide much of the supply that is currently covered
by petrochemicals that are imported from the United States and will help to
reduce the country's current lack of ethylene products.

This recent announcement is ongoing proof that foreign direct investment
(FDI) is up in Mexico,with the most attractive sectors being manufacturing,
trade,mining,professional services and real estate. In 2010,FDI numbers
topped $17 billion,with numbers this year projected to hit at least $22
billion and counting. The growth is spurred by a rebounding US economy,as well
as increased interest among investors around the globe.

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