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ING Signs On to Build Manufacturing Mecca

MEXICALI, MEXICO-The $1-billion master-planned park gets the go-ahead after five years of planning as a way to compete for Asian manufacturing jobs.

By Joe Clements | Updated on March 20, 2007

MEXICALI, MEXICO-A visionary plan to create a 15-square mile technology manufacturing complex here on the Baja peninsula has taken a giant step forward upon news of financial backing by ING Real Estate. The deep-pocketed Dutch investment group is teaming with San Diego-based Silicon Border Development to construct and operate the ambitious initiative, one expected to employ upwards of 50,000 Mexican and US workers in so-called “clean” technologies.

“This is a really big milestone for us to have ING’s commitment,” SBD spokesman tells GlobeSt.com. ING will finance land acquisition for 4,500 acres of virgin land at the site, which is just across the California border, and provide initial capital for infrastructure work expected to approach $200 million, with a total cost of $1 billion.

The 20-year plan, foreseen as 10,000 acres of development over several phases, will require roads, utilities, water treatment plants and state-of-the-art buildings to attract technology related manufacturing. Modeled after similar master-planned parks in China, Malaysia, Singapore and Taiwan, the spokesman explains the concept was launched by officials in the semi-conductor industry tired of seeing their end product built overseas.

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