Sempra’s Mexican subsidiary to invest US$ 155 million in fuel storage facility
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Sempra Energy’s Mexican subsidiary Infraestructura Energética Nova, S.A.B. de C.V. (IEnova), today announced it has been awarded a 20-year contract by the Veracruz Port Administration in Mexico to build and operate a receipt, storage and send-out liquid fuels marine terminal on the Mexican Gulf Coast.
With an expected investment of approximately US$ 155 million, the new liquid fuels terminal will have a capacity of 1.4 million barrels of gasoline, diesel and jet fuel to supply the central region of Mexico. Operations are expected to commence in the second half of 2018.
"This project represents an exciting new market entry for IEnova in Mexico," said Joseph A. Householder, corporate group president of infrastructure businesses for Sempra Energy. "IEnova continues to position itself strategically to help develop Mexico's energy infrastructure."
IEnova will be responsible for the development of the liquid fuels terminal project, including obtaining permits, engineering, procurement, construction and financing, as well as maintenance and operations. IEnova estimates that the project will create approximately 500 direct jobs and up to 2,000 indirect jobs during construction.