July 9, 2018 / 12:50 PM / a year ago

Mexico's IEnova to invest $150 mln in Sinaloa fuel terminal

MEXICO CITY, July 9 (Reuters) - Mexican energy infrastructure firm IEnova, a unit of U.S.-based Sempra Energy, said on Monday it would invest about $150 million to build and operate a fuel terminal in the northwestern state of Sinaloa.

The tender was won by its subsidiary, IEnova Petroliferos IV, IEnova said in a statement. It expected the terminal to begin operations in late-2020.

The facility will feature initial storage capacity of 1 million barrels, mainly for gasoline and diesel, IEnova said. The company said the capacity of the terminal has been fully contracted on a long-term basis, and would give further details by whom at a later stage.

It added that in the future, it could expand capacity at the terminal and even offer storage for other products such as petrochemicals.

IEnova said it had offered the best price in the tender, which was held by the Administracion Portuaria Integral de Topolobampo, a federal port authority. (Reporting by Veronica Gomez Editing by Chizu Nomiyama)

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