IEnova earns contract to build US$ 150 million fuel storage terminal in Sinaloa
Infraestructura Energética Nova, S.A.B. de C.V. (IEnova), a Mexican subsidiary of California-based Sempra Energy, announced that it has been awarded a contract for the construction and operation of a marine terminal for the receipt and storage of hydrocarbons, petroleum, petrochemicals and other liquids in Topolobampo, Sinaloa, after having offered the best economic proposal in the public tender launched by the Integral Port Administration of Topolobampo, S.A. de C.V. (API Topolobampo).
Through its subsidiary IEnova Petrolíferos IV, S. de R.L. de C.V., the company will be responsible for the full implementation of the project, including obtaining customer contracts, permits, engineering, procurement, construction, financing, operation and maintenance. The investment is expected to be approximately US$ 150 million, and commercial operations are expected to commence in the fourth quarter of 2020.
Carlos Ruiz Sacristan, Chairman and CEO of IEnova, said in a statement that this new terminal will increase Sinaloa’s access to fuel supply sources, contribute to the region’s energy security, and foster competitive prices for the end consumer.
“This project demonstrates IEnova´s commitment to the development of strategic and necessary energy infrastructure in Mexico. It represents our fifth terminal of this kind in the country, and it is part of the strategic plan to diversify our asset portfolio that we have undertaken in the past few years,” he added.
IEnova expects that the first phase of the terminal will have 1 million barrels of storage, mainly for diesel and gasoline. The company has already made significant commercial progress with potential customers to ensure that 100% of the capacity is fully contracted.
The terminal could also be expanded to store additional refined products and/or offer service for other products such as petrochemicals.
IEnova has already won a contract to build a fuel storage terminal in Mexico. Earlier this year the company started the construction of a US$ 155 million facility in Veracruz to handle jet fuel, gasoline and diesel.
Valero Energy, an oil and gas company based in San Antonio, Texas, has already signed a long-term agreement with IEnova to use de marine terminal as well as other facilities.
Valero will ship fuel on tanker vessels to Veracruz to transport refined products from Veracruz to the inland terminals by railway in partnership with rail company Ferromex S.A.