The company’s $1.3 billion investment will be made throughout Mexico, and will involve building distribution centers and expanding existing ones.
Wal-Mart said it will invest $1.3 billion to strengthen and expand its logistics network in Mexico.
“With this, the company will not only be in a better position to supply its more than 2,300 stores in the country, but also help Mexican families save even more money,” the company said. “A big portion of this investment will be made within the following three years to build distribution centers and enlarge existing ones, thus creating over 10,000 direct permanent jobs in the country.”
Guilherme Loureiro, president and chief executive of the company’s 71 percent owned joint venture in Mexico, Walmart de México y Centroamérica (Walmex), said the investment will be made throughout Mexico.
“We’re about to define which states will be considered, based on geographical location, highway infrastructure, availability of services and competitiveness, among other variables. This investment will create jobs and benefit various industries, such as construction, transportation, and agricultural and livestock,” he said.
Louriero announced the plans at an event with President Enrique Pena Nieto at the president’s office.
Loureiro said the company had already invested 80 billion pesos (U.S. $3.93 billion) in the past four years, Reuters reported.
A Wal-Mart spokeswoman told Reuters the investment in Mexico will not result in any jobs being moved from the United States and is necessary for expansion of the company’s Mexican business.
Wal-Mart invests $1.3b to improve logistics operations in Mexico
