IEnova to Build Liquid Fuels Project in Sinaloa, Mexico
Sempra Energy announced that its Mexican subsidiary, Infraestructura Energética Nova (IEnova), has been awarded a 20-year contract by the Topolobampo Port Administration in Mexico to build and operate a receipt, storage and send-out liquid fuels marine terminal in the state of Sinaloa.
With a projected investment of approximately $150 million, the first phase of the new liquid fuels terminal will have a storage capacity of 1 million barrels of fuel, including gasoline and diesel. Operations are expected to commence in the fourth quarter of 2020.
"The Topolobampo project will facilitate access to additional international fuel supplies and help meet growing demand in Mexico," said Joseph A. Householder, president and chief operating officer of Sempra Energy. "IEnova's success in developing new energy infrastructure is contributing to Mexico's economic growth, creating jobs and diversifying energy supply while benefitting millions of Mexican energy consumers."
IEnova will be responsible for the development of the liquid fuels terminal project, including financing, obtaining customer contracts and permits, engineering, procurement and construction, as well as maintenance and operations.
IEnova has achieved significant commercial progress with potential customers and intends to contract for 100 percent of the terminal's capacity. Future phases of the liquid fuels terminal could include additional fuel storage capacity and storage of petrochemicals.
IEnova develops, builds and operates energy infrastructure in Mexico. With more than 900 employees and approximately $7.6 billion dollars invested, its footprint in Mexico includes several lines of business across the energy infrastructure value chain that is open to private investment in the country.
Sempra Energy, based in San Diego, is a Fortune 500 energy services holding company with 2017 revenues of more than $11 billion. Sempra Energy is the utility holding company with the largest U.S. customer base. The Sempra Energy companies' approximately 20,000 employees serve more than 40 million consumers worldwide.
