The Mexican government will spend US$65 million this year on its software industry development program, according to a report in today’s Business News Americas.

ArcelorMittal SA, the world’s largest steel maker, announced today that it would build a US$600 million steel mill in Mexico, according to an AP report.

The company has not determined location for the steel mill, which the company expects will provide steel for Mexican infrastructure and housing projects.

The announcement comes approximately a year after ArcelorMittal closed its acquisition of Sicartsa, a Mexican integrated steel producer it bought from Grupo Villacero for US$1.44 billion.  In addition to steel production facilities in Mexico and Texas with an annual production capacity of approximately 2.7 million tonnes, Sicartsa has estimated iron ore reserves of 160 million tonnes (approximately 30 years of reserves at current production rates).  As part of the Sicartsa acquisition, Arcelor Mittal also entered into a 50/50 joint-venture with Grupo Villacero for the distribution and trading of Arcelor Mittal long products in Mexico and in the southwest of the United States.  ArcelorMittal, SA appears to conduct operations in Mexico through its subsidiary Mittal Steel Lazaro Cardenas, S.A. de C.V.

The Spanish government said that it views President Felipe Calderón’s proposed energy law reform package “very favorably” and that it has generated “enormous interest” among Spanish businesses, as reported in today’s La Jornada. 

Spanish deputy prime minister María Teresa Fernández de la Vega is expected to make a high-level visit to Mexico next week to bolster Spanish interests in Mexico.  Spanish prime minister José Luis Rodríguez Zapatero will also arrive in Mexico on Saturday, August 9, 2008.  La Jornada reports that the main purpose of President Zapatero’s visit is threefold: (1) to sign a series of agreements with Mexico relating to security and the environment, (2) to discuss the proposed reforms to Mexican energy laws and reform of the Foreign Investment Law (a copy in English is available here), and (3) to discuss cooperation between Spain and Mexico and Spanish support for Mexican economic development.

Sigma Alimentos, Mexico’s largest producer and distributor of regrigerated and frozen food, signed an agreement to acquire Peruvian cold meats manufacturer and distributor Braedt, S.A., according to a report in today’s El Economista.  Sigma is a wholly-owned subsidiary of Mexican conglomerate Grupo Industrial Alfa, S.A., whose three other prinipal business groups are Alpek (petrochemicals), Nemak (aluminum auto components), and Alestra (telecommunications).