The Shandong Province, China-based auto parts company Shandong Golden Empire Precision Machinery Technology Co. (GEB) is investing $165 million in the central city of Villa de Reyes, in the Mexican state of San Luis Potosí, according to press reports.
The company will produce equipment and accessories for the automotive industry, and urban trains, the magazine Somos Industria reported, citing the head of the San Luis Potosí Economic Development Secretariat (Sedeco), Salvador González Martínez.
The city of Villa de Reyes is located 18 miles south of the state capital. The magazine failed to mention when production will begin.
In addition to GEB, Gonzalez Martínez said, 12 other companies from China have been established in the state. In addition, he expects investment from six other Chinese companies in the short and medium term in San Luis Potosí, mainly for the automotive industry and for the manufacturing industry.