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Reflecto News | Breaking News | Trade & Investment
MEXICO CITY — Canadian firm Solar International Core Canada (SICC) has signed an agreement with the central Mexican state of Hidalgo to invest $2 billion in the construction of a facility to produce active pharmaceutical ingredients (APIs), Mexican and Canadian authorities announced on Friday .
The announcement marks a significant win for Mexico’s efforts to attract foreign investment in high-technology sectors and was a highlight of Economy Minister Marcelo Ebrard’s two-day trade mission to Canada, which included hundreds of Mexican business representatives .
As part of the memorandum of understanding signed between SICC CEO Babak Arefpour and Hidalgo’s Secretary of Economic Development Carlos Henkel, the company has committed to setting aside $70 million to purchase a plot of land in Zapotlan, where the plant will be built . The facility is slated for the new Economic Development Pole for Welfare in the Zapotlan Reserve, a hub designed to foster high-tech industries .
“We ended the day with a $2 billion investment for Hidalgo. That alone made the entire mission worthwhile, although we are seeing many more results,” Ebrard said in a statement .
The plant aligns with Mexico’s “Plan Mexico” strategy, which seeks to develop specialized regional industrial poles. In Zapotlan, the focus will be on high-technology sectors including pharmaceuticals, medical devices, logistics, and aerospace .
🇨🇦 Additional Canadian Investments Under Consideration
The trade mission produced several other proposed deals:
- Process Research Ortech Inc. agreed to consider investing $380 million in a battery materials processing plant in the state of Puebla .
- INTE Modular said it was considering investing up to $360 million in a modular housing plant in Mexico’s southern Chiapas state .
- Sustainable Agave Holdings Ltd. said it was considering an agave pulp plant in Jalisco state, with a potential investment of $100 million .
In reciprocation, Mexico’s Grupo Bimbo, one of the world’s largest baked goods producers, agreed to spend approximately $146 million to modernize its Canadian facilities .
🤝 Strengthening the USMCA
During the mission, Ebrard and Canada’s minister in charge of U.S. trade, Dominic LeBlanc, discussed strengthening the United States-Mexico-Canada Agreement (USMCA), which is currently undergoing a review .
The investment comes amid ongoing global supply chain disruptions and increasing emphasis on regional manufacturing resilience. The API plant is expected to serve markets across North America, with Ebrard noting that the facility will focus on producing APIs and generic medications for Mexico, the United States, and Canada .
📋 Key Takeaways
| Aspect | Details |
|---|---|
| Company | Solar International Core Canada (SICC) |
| Investment amount | $2 billion |
| Location | Zapotlan, Hidalgo, Mexico |
| Product | Active Pharmaceutical Ingredients (APIs) |
| Land investment | $70 million for site acquisition |
| Strategic context | Part of Mexico’s “Plan Mexico” for specialized industrial hubs |
| Announcement date | May 8, 2026 |
| Other potential investments | Process Research Ortech ($380M), INTE Modular ($360M), Sustainable Agave ($100M) |
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