Mexico says foreign firms have pledged $20 billion in investments, but many are old or uncertain

abcnews.go.com:

Mexican officials say companies have pledged $20 billion in new foreign direct investment in Mexico

MEXICO CITY — Mexican officials announced Tuesday what they claimed was $20 billion in new foreign direct investment in Mexico, but much of that was neither new, nor completely certain.

Investor confidence in Mexico has been shaken recently by controversial reforms to the energy sector and the judiciary, and the government is eager to regain the trust of foreign companies.

Among the bigger announcements Tuesday was what appeared to be a final investment decision by Mexico Pacific LLC for an LNG gas terminal on Mexico’s Gulf of California, also known as the Sea of Cortez.

That $15 billion project would import U.S. natural gas, liquefy it and ship it to customers largely in Asia. It is planned for Puerto Libertad, between the coastal towns of Guaymas and Puerto Peñasco.

Mexico Pacific CEO Sarah Bairstow said “this represents the largest foreign direct investment to date.”

However, that plan has been on the drawing boards since at least 2020, and still depends on getting cross-border gas pipelines approved and built.

Mexican Economy Secretary Marcelo Ebrard said the second-largest investment was a $6 billion commitment by Amazon.

While Ebrard did not specify what it was for, Amazon Web Services had already announced in February an investment of “more than $5 billion” to build cloud-computing infrastructure in Mexico.

And Ebrard said the cruise line Royal Caribbean pledged to invest $1.5 billion in the Caribbean coast resort of Mahahual, south of Tulum.

That was apparently a reference to the company plan — announced last week — to build a second “Perfect Day Mexico” on-shore facility for cruise ship passengers in Mahahual,