The construction market in South and Central America is forecasted by GlobalData to grow by 1.6% in real terms in 2024, having grown by 4.0% in 2023. A key growth market will be the infrastructure market, with output rising by 2.5% in real terms. GlobalData tracks and profiles all major construction projects from announcement to completion. For further insight on this market, buy the latest profiles here.
Here are South and Central America’s five largest manufacturing plant construction projects that were initiated in Q2 2024, according to GlobalData’s construction projects database.
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1. San Luis Potosi Electric Vehicle Manufacturing Facility
The project involves the construction of an electric vehicle (EV) manufacturing facilities on an 85,000m2 area with a projected capacity of 175,000 vehicles in San Luis Potosí, Mexico.
Construction work started in Q2 2024 and is expected to be completed in Q4 2026.
The aim of the project is to increase production capacity to meet the growing demand for EVs and to help to reduce greenhouse gas emissions in the region. It will create 1,000 jobs. Buy the profile here.
2. Aztema Rubber & Tire Manufacturing Plant
The project involves the construction of a tire manufacturing plant with a production capacity of six million units per annum in Leon, Guanajuato, Mexico.
Construction work commenced in Q2 2024 and is expected to finish in Q1 2025.
This plant would be the group’s first manufacturing plant in North America. Buy the profile here.
3. Coahuila Car Tire Manufacturing Plant
The project involves the construction of a car tire manufacturing plant on 61ha of land with a production capacity of five million tires per annum in Saltillo Alianza Industrial Park, Saltillo, Coahuila, Mexico.
Construction work started in Q2 2024 and is forecast to complete in Q1 2027.
4. Monterrey Manufacturing Plant
The project involves the construction of a manufacturing plant on a 65,000m2 area in Monterrey, Nuevo Leon, Mexico.
Construction work commenced in Q2 2024 and is expected to be completed in Q4 2026.
5. Electric Motor and Vehicle Engines Manufacturing Plant
The project involves the construction of a manufacturing plant in Escobedo, Nuevo Leon, Mexico.
Construction work started in Q2 2024 and is expected to be completed in Q4 2026.
For more details on the latest construction projects, buy the profiles here.
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GlobalData’s Construction Projects database tracks over 220,000 new construction projects valued at >$25m from announcement to completion across all countries and sectors.
