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Slim to invest US$3.7bn this year (Mexico)
2011-02-02
Mexican billionaire Carlos Slim will invest 44.7bn (US$3.72bn) pesos in Mexico this year, local and international press quoted the tycoon as saying at a press conference.

 

The amount is 13% more than Slim invested during 2010, and could generate 20,000 direct and indirect jobs this year, the executive said.

 

According to Slim, head of conglomerate Grupo Carso (BMV: GCARSO), about 40% of the money will go towards the telecoms sector. Some 10bn pesos will be designated to Grupo Carso's fixed line unit Telmex and a similar amount for its mobile operator Telcel.

 

Slim said Grupo Carso's infrastructure unit Ideal - which develops highway, water treatment and general infrastructure projects - will receive 13bn pesos, while another 10bn pesos will go to the group's mining branch Minera Frisco and the rest of the investment will go to various other sectors.

 

Highlighting Mexico's large market potential, Slim said that despite instability in the country, "he who does not invest in Mexico is going to get left behind. I'm optimistic and I continue to believe that we will grow in 2011 and 2012."

 

However, Mexico needs to reactivate its economic activity and employment on its own, Slim said, and no one will do it for the country. It is the role of businesses to build companies and to find solutions more easily than politicians, he added.


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