The division that manages Multi Inversiones’ energy and real estate development projects closed an intense year. Its CEO, Enrique Crespo, highlights the entry into operation of Renace IV.
Enrique Crespo is, since February 2018, CEO of CMI Capital, business division of Corporación Multi Inversiones (CMI), which covers renewable energy generation projects; real estate project development and financial services businesses. Previously, he was Managing Director of the Corporate Office.
CMI Capital closed 2019 with the inauguration of the Vistares Mixed-Use Complex, which with an investment of US$50 million and developed in alliance with Grupo Tecun, is the first comprehensive mixed-use real estate complex in zone 11 of the Guatemalan capital.
It has more than 90,000 square meters distributed in two areas: residential, consisting of 118 apartments in two towers that will be delivered by the end of 2020 and Pradera Vistares, the 14th shopping center of the Pradera brand developed and managed by Multi Proyectos, CMI’s real estate development unit.
In terms of energy generation projects, clean energy -mainly wind and solar- are its big bets.
Why has CMI formed CMI with CMI Capital as one of the business divisions?
Corporación Multi Inversiones has two business groups, one is CMI Alimentos, and there we have our businesses in all the countries where we operate that have to do with the wheat and corn value chain.
We develop industrial flours, pastas, cookies and the entire manufacturing and marketing value chain. We do the same for meat products, poultry, pork and by-products. We also produce and market animal feed and we have our restaurant unit with the best known brand, Pollo Campero. That is the world of CMI Alimentos.
At CMI Capital, we take care of businesses that are not related to the food value chain, but with businesses that are capital-intensive, such as Renewable Energy Generation, Real Estate Development, which is Multi Projects, and the Financial business.
The strategic premise behind business clusters is that it is much more efficient and much more focused. In the food value chain there are many synergies, much potential and value capture if we do things in a grouped way, the same in the capital businesses, that is what the reorganization responds to.
Where is CMI’s expansion and diversification headed?
We currently have investments in the Caribbean in CMI foods. We are in the industrial flour, pasta and cookie business in the Dominican Republic and Haiti, and from there we export to the rest of the Caribbean. As for CMI Capital, we have great expectations for expansion in our Capital businesses for the Caribbean. We are going to continue investing in Renewable Energy, we are now evaluating solar renewable energy options in Central America and the Caribbean, new projects in the Caribbean and we are going to continue evaluating investment opportunities more oriented to solar technology in the rest of Central America, says Juan Luis Bosch Gutiérrez.