Mexico lures $6 billon in foreign investment

Pepsico and Nestle on Friday announced major investments worth a combined $6 billion in Mexico.

Separately, Mexican state-run company Pemex will sign a cooperation memorandum with Russia's Lukoil on Friday, Pemex chief executive Emilio Lozoya said.

Pepsico said it would spend $5 billion in Mexico over five years to strengthen its food and beverage business, while Nestle is planning a $1 billion investment over five years which includes two new factories.

Source: Reuters