Lingong Machinery Group (LGMG), based in Shandong, China, opened its first plant in the northern Mexican state of Nuevo León, with an investment of $140 million to produce mobile platforms. This investment is part of the $5.0 billion plan announced last October, the local government reported.
“In these new facilities, built in record time of just 14 months and an investment of $140 million, the Chinese company will manufacture scissor lifts and electric articulated lifts,” reported the government of Nuevo León, the third largest economy in Mexico, in a press release.
“This investment was the result of the recent work tour to China by Governor Samuel García, who emphasized that together there is already $5 billion in investment from first-world companies from the Asian giant,” the statement added.
The $5.0 billion investment will be used to build an industrial park to receive companies from China, mainly suppliers.
The plant is located in the northern city of Marín, 25 miles northeast of the state capital, Monterrey. It is also 172 miles southwest of the border city of Laredo, Texas.
According to the statement, from October 2021 to November 2023, Nuevo León received 205 investment projects, of which 106 were new investments and 99 facility expansion projects. The government failed to report the investment amount of these projects.