Xinhua reported that Chinese company Golden Dragon opened USD 100 million copper pipe plant in the northern Mexican state of Coahuila the biggest investment ever by a Chinese manufacturer in Mexico.

The plant which covers 200,000 square meters will bring 900 jobs to Coahuila's city of Monclova. It has an annual capacity of 60,000 tonnes of copper tubes for air conditioners. It is currently training 300 Mexican workers and plans to boost the annual capacity to 120,000 tonnes when the new workers are in place.

At the launching ceremony, Mr Li Changjie president of Golden Dragon said that he was confident that Mexico was a good place to invest.

He added that the Monclova plant was part of a global strategy which would allow his company to meet the demand in North America and Europe.

Also at the ceremony, Mr Bruno Ferrari the head of the Mexican trade promotion body ProMexico said the new plant symbolized the confidence that major international firms had in Mexico and its competitive advantages, which included low industrial costs and anattractive exchange rate.

Golden Dragon, founded in Xinxiang China Hunan Province, has a total workforce of 10,000 and gross sales of more than USD 2 billion worldwide.

(Sourced from Xinhua)