Walmex, the Mexican and Central American division of US retail giant Walmart, is planning to invest 27.1bn pesos ($1.5bn) across its operations in 2023, including into new and existing stories, technology and the supply chain.

The investment announcement, which represents a 27% increase on 2022, was made during ‘Walmex Day 2023’ (March 7). Around 29% of the $1.5bn will be used to build new Walmex stores and clubs. The company said it expects its discount store chain Bodega to be its “main growth engine”.

Just under half of the investment will be used for remodelling and maintenance of existing stores, which will further improve Walmex’s capability in serving its customers across different channels. The remainder of its 2023 investment will be split between its supply chain (12%) and technology (14%).

Walmex said on March 7 that it has also received approval from Mexican authorities to acquire a Mexican electronics payments company.

China’s Sunny Optical Technology plans $2.5bn facility in Vietnam

Chinese lens maker Sunny Optical Technology is planning to invest up to $2.5bn to develop an optical production complex in the northern Vietnamese province of Thai Nguyen.

The Ningbo-based manufacturer will build the complex over an area of between 26 and 40 hectares in the Yen Binh Industrial Park, according to a statement released by Thai Nguyen’s People’s committee on March 8. The plans follow the signing of a memorandum of understanding between the lens maker and the local provincial government.

The facility is expected to take five years to build, once the local authorities grant the company an investment licence and will supply electronics and automotive industries. 

Thai Nguyen, which is located to the north of the capital Hanoi, is already home to Samsung’s largest facility in Vietnam. The electronics giant employs more than 60,000 people in its factory, where it produces hundreds of thousands of smartphones and tablets every day.

New York set for offshore wind supply chain boost

Attentive Energy One (AE1), a joint venture between France’s TotalEnergies and New York’s Rise Light & Power, has proposed to build two offshore wind turbine component manufacturing facilities with General Electric in New York state.

AE1, which secured a lease area of more than 84,000 acres off the US east coast in the New York Bight offshore wind auction, said on March 7 that it has filed a proposal to build one facility for offshore wind turbines and another for nacelles (a part of a wind turbine made up of a generator, low- and high-speed shafts, gearbox, brake and control electronics). The auction, which was announced in February 2022, resulted in bids for six leasing areas off the coast of New York and New Jersey totalling around $4.37bn. 

AE1’s proposal, which is awaiting approval from the New York State Energy Research and Development Authority, is expected to create a combined total of at least 870 direct jobs across the two component production facilities.

“At the heart of the Attentive Energy One project is a commitment to activating a true upstate–downstate supply chain corridor that integrates both existing and new supply chain pathways,” said Damian Bednarz, managing director of Attentive Energy.

AE1 estimates that its plans could create $25.6bn in economic benefits for New York state.