Sempra Energy's Ienova Unit awarded $155 million liquid fuels project in Veracruz

Source: Sempra Energy

Sempra Energy (NYSE: SRE) today announced that its Mexican subsidiary, Infraestructura Energética Nova, S.A.B. de C.V. (IEnova) (BMV: IENOVA), 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.

 

SAN DIEGO – Sempra Energy (NYSE: SRE) today announced that its Mexican subsidiary, Infraestructura Energética Nova, S.A.B. de C.V. (IEnova) (BMV: IENOVA), 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 $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.

Sempra Energy, based in San Diego, is a Fortune 500 energy services holding company with 2016 revenues of more than $10 billion. The Sempra Energy companies' more than 16,000 employees serve approximately 32 million consumers worldwide.

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