Grupo Mexico sees growth in oil-by-rail, terminals: CFO
From Reuters / By Noe Torres and Marianna Parraga / August 8, 2017.
“Mexico’s mining and infrastructure firm Grupo Mexico expects to expand its oil-by-rail business by building at least three terminals in Mexico, including one exclusively for U.S. refiner Valero Energy, its chief financial officer told Reuters on Tuesday.”
“Grupo Mexico has been in talks with importers of refined products into Mexico, said Xavier Garcia de Quevedo. Fuel purchases from the United States are a growing business as the Latin American country’s demand for imported products keeps increasing.”
“Earlier this month Valero announced that it had signed a long-term agreement with the company to transport fuels by rail from Veracruz to inland terminals in Mexico.”
“”Our interest is to build and operate the terminals, to offer rail services and (access to) the terminals,” Garcia de Quevedo said.”
“He mentioned Torreon, Chihuahua, Mazatlan, Manzanillo and Guadalajara as potential locations for the new terminals.”
“Grupo Mexico, which operates rail lines in Texas and Florida and has a drilling company called Pemsa that has worked for state-run oil company Pemex, is also considering participating in coming oil auctions in Mexico, especially in shallow water areas.”
“Garcia de Quevedo said the company expects to increase about 40 percent its metal melting capacity in Peru, after the government changed an environmental rule for these activities.”
“Grupo Mexico plans to start production at Los Chancas mining project in Peru, with expected capacity of 90,000 tonnes of copper, in late 2021, he said.”
“Garcia de Quevedo was interviewed at the Reuters Latin America Investment Summit.”
Ferrocarril
