Financing set gas line in northern Mexico

Financing is set for construction of a 289-mile pipeline that will carry natural gas produced in Texas to power plants in Mexico, reports Milbank, Tweed, Hadley & McCloy, which represented the funding group.

The La Laguna pipeline will connect power plants owned by state-owned Comision Federal del Electricidad in El Encino, Chihuahua, and La Laguna, Durango.

Fermaca Global LP will build the $820-million pipeline, which is expected to be operational in the first half of 2017. Capacity will be 1.5 bcfd.

Members of the financing group include Citigroup, ING, NordLB, Banco Santander, Sabadell, and Goldman Sacha.

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