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Cisco Is Said to Be Planning a $4 Billion Expansion in Mexico

September 28, 2016, 7:03 AM UTC
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SAN JOSE, CA - AUGUST 10: A bicyclist rides by a sign that is posted in front of the Cisco Systems headquarters on August 10, 2011 in San Jose, California. Cisco Systems reported better-than-expected fourth quarter revenues with a 3.3 percent rise to $11.2 billion as the company continues to scale down its business. (Photo by Justin Sullivan/Getty Images)
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U.S. networking equipment maker Cisco Systems (CSCO) plans more than $4 billion worth of expansion in Mexico between 2016 and 2018, the Mexican government said on Tuesday.

Cisco’s Chief Executive Officer Chuck Robbins made the announcement during a meeting with Mexican President Enrique Pena Nieto, the government said in a statement.

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The expansion would boost output in Mexico of products ranging from routers, servers, switches and wireless access points, as well as spur the creation of 270 jobs and 77 indirect jobs, the government said.

It was unclear how much of the sum announced had already been set out in the company’s plans for the country.