The Mexican unit of Italian tiremaker Pirelli plans to invest $200 million at its plant in the central state of Guanajuato as part of its growth strategy, the Economy Secretariat said.

The investment was announced at an event attended by Economy Secretary Ildefonso Guajardo, Pirelli vice president for operations Giuliano Menassi and Guanajuato Gov. Miguel Marquez.

The project in Mexico is part of the Pirelli strategic plan presented in November 2011, when the company announced it would pump $400 million into the premium tire plant in Silao, Guanajuato, Menassi said.

"The first $200 million have already been used and investment of the remaining $200 million will be completed in 2017 to start the new Green Performance project" that focuses on environmentally friendly products, the Pirelli executive said.

The initial project and the new one together will create 1,400 direct jobs and nearly 400 indirect jobs by 2017 in Mexico, Menassi said.

The plant in Silao, which is equipped with Pirelli's most advanced technology and manufacturing processes, was opened in May 2012 and produced its one-millionth tire in June.

The plant produces Ultra High Performance and High Performance tires for automobiles and pick-up trucks. EFE