MEXICO CITY (Reuters) - Tropical Storm John is rapidly growing and is set to become a hurricane by Monday afternoon as it barrels toward Mexico's Pacific coast, according to the U.S.-based National Hurricane Center (NHC).

John is set to speed up even more before it makes landfall on Tuesday near resort destination Puerto Escondido, the NHC forecast showed, bringing with it strong winds, a dangerous storm surge and life-threatening flash flooding.

The NHC warned that preparations should be "rushed to completion" to protect life and property as winds will slam the coast Monday evening.

The coastline from Punta Maldonado to Bahias de Huatulco is under a hurricane warning, the NHC said, with a tropical storm warning stretching east to Salina Cruz.

Mexican state-run oil company Pemex's largest domestic refinery is in Salina Cruz.

To the west, resort town Acapulco should be spared, the NHC forecast showed. Acapulco was battered by Hurricane Otis last year and recovery efforts are still ongoing.

(Reporting by Diego Ore and Kylie Madry; Editing by Alistair Bell)