Mexico says foreign firms have pledged $20 billion in investments, but many are old or uncertain

MEXICO CITY (AP) — Mexican officials say companies have pledged $20 billion in new foreign direct investment in Mexico. But it is not clear how much of that was new, or certain. The projects included a plan by Mexico Pacific LLC for a LNG gas terminal on Mexico’s Gulf of California, also known as the Sea of Cortez. That $15 billion project would liquefy U.S. natural gas and ship it to customers largely in Asia. However, that plan has been on the drawing boards since at least 2020 and still depends on getting cross-border gas pipelines approved and built.