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Mexico's IEnova will invest $800 million in 2017 on eight projects: CEO
January 16, 2017 / 3:08 PM / 8 months ago

Mexico's IEnova will invest $800 million in 2017 on eight projects: CEO

The Sempra Energy building is pictured in San Diego, California March 10, 2015. REUTERS/Mike Blake

MEXICO CITY (Reuters) - Mexican energy infrastructure firm IEnova (IENOVA.MX), a unit of U.S.-based Sempra Energy (SRE.N), will invest $800 million this year on eight projects, the company’s chief executive said on Monday.

Carlos Ruiz Sacristan said the most important project is an underwater pipeline between Texas and the Mexican Gulf port of Tuxpan. That project will require a total investment of $2 billion, and will be developed with TransCanada Corp. (TRP.TO)

Speaking at an event at Mexico’s stock exchange, he said IEnova will invest $500 million in the pipeline project.

Reporting by Roberto Aguilar; Editing by James Dalgleish

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