China-based Lingong Machinery Group (LGMG) signed an agreement to invest $5.0 billion in a plant in Mexico to produce machinery and loading equipment for the local and export markets, reported Samuel García, governor of the northern state. of Nuevo León.
“We have just signed a memorandum for [the company’s] investment of $5.0 billion in Nuevo León. An entire supply chain related to construction, machinery, elevators (forklifts) like the ones back here will arrive. All of this will be produced in the future plant, new for the local and North American markets,” García said in a video broadcast from the LGMG facilities in China.
In the video broadcast on the X social network (formerly Twitter), García said that LGMG will accelerate its investment to complete the purchase of the land no later than next month and begin construction of the plant in December.
García is on a work tour of Asia, he started in Japan and is now in China.
LGMG is one of the five largest producers of mobile machinery for moving people from a work platform and one of the world's leading producers of machinery for the construction industry.