CHICAGO Automaker Nissan and a Mexican industrial real estate developer have signed an agreement to develop an industrial park at the Japan-based automotive companys new Aguascalientes, Mexico, manufacturing plant.
The site would be close to the assembly plant, allowing the carmaker to link automotive suppliers to production processes. Plans call for the industrial park be developed within Nissans $2 billion manufacturing complex, where Phase 1 of automotive operations are scheduled to open by year end.
Initially and involving a projected investment of $57 million, seven suppliers will locate 1.5 million square feet of manufacturing space across five buildings with provisions to expand further. South Korea-based steel producer Posco Ltd. is listed among the supplier group.
Nissans agreement with Vesta to build the park reflects "a need for specialized partners that can help support the accelerated expansion of production capacity, as demand for Mexico-made vehicles currently surpasses supply," José Valls, president and managing director of Nissan Mexicana SA de CV, said in a July 10 statement.
"Nissans suppliers are key to this expansion and investment story," Armando Avila, vice president of manufacturing for Nissan Mexicana, said. "Through their presence at the (industrial) park, we will collaborate shoulder-to-shoulder in closely timed, innovative manufacturing processes."
Nissan is one of three companies that announced major automotive production growth in Mexico in the past two years. Collectively and barring any additional plans, Nissan, Honda and Volkswagen expect to spend $3.24 billion there through the end of 2014.