These are the Mexican companies in Peru and their businesses

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Grupo México, América Móvil, Arca Continental, Bimbo, Mabe, Femsa and Cinépolis are the main Mexican companies in Peru.

Beyond the political conflicts that exist in Peru and the tensions with the Mexican government, there are several Mexican companies with operations in the South American country; Among the main ones are Grupo México, América Móvil, Ica, Arca Continental, Bimbo, Mabe, Femsa and Cinépolis.

According to the Ministry of Foreign Affairs (SRE), Mexico is one of the main partners of the South American country; In fact, it is the second recipient of Mexican foreign direct investment in Latin America, only after Brazil, and the accumulated investment in the last 10 years amounts to almost 17 billion dollars, according to figures reported by the companies themselves.

One of the main companies is Grupo México, owned by businessman Germán Larrea, which has more than one of its long-term projects in this nation, with investments in the coming years estimated at 6.5 billion dollars, according to its third-quarter financial report.

For example, among its growing works is Tía María, where it expects around 120,000 tons of copper per year by 2025 and will invest 1.4 billion dollars; while in Los Chancas projects 130 thousand tons of copper and 7.5 tons of molybdenum by 2027, which would represent 2.6 billion dollars of capital.

There is also the project called Michiquillay, in which the mining company of the second richest Mexican expects approximately 225 thousand tons of copper per year by 2029, which would represent around 2.5 billion dollars of capex.

However, Grupo México is not exempt from problems in Peru, since it reported that in Chancas, as of September 30, part of the project land was still occupied by illegal miners, some of whom have irregularly registered their shares in the Registro de Mineria (REINFO), for which it has filed criminal complaints and other legal resources, which have annulled the claims of 43 illegal miners while 32 cases remain open.

Meanwhile, the company signed a Social Agreement with the Communities of Michiquillay and Encañada, for which the semi-detailed Environmental Impact Study of the project has been approved and expected to start an in-depth exploration program in November of this year.

Carlos Slim is also one of the Mexicans with a presence in the South American country through his telecommunications giant América Móvil, with which he reached 12.3 million mobile subscribers, as well as almost 2 million fixed lines.

Between last July and September, its revenues in Peru reached 1.6 billion soles, 1.1% more than the previous year, driven by a 4.5% rise in those services, mobiles increased 5.5% and postpaid revenues grew 9.6 %.

The Arca Continental bottling company obtained 7.6% of its income from the Peruvian market between January and September, which reached 11,873 million pesos, in addition to having net assets of 38,140 million pesos.

Grupo Bimbo adds Peru to its Latin America division, a region where it recorded revenues of 10,008 million pesos; Only in 2018, the bakery announced an investment of 10 million dollars in a new plant in that country.

In turn, Femsa in Peru had 55 Oxxo stores until the end of 2021; while Cinépolis has 6 cinemas in the Peruvian market.

Source: Forbes