July 15, 2014 / 4:10 PM / 6 years ago

Mexichem to operate $650 mln cogeneration plant for Pemex

MEXICO CITY, July 15 (Reuters) - Mexican chemicals company Mexichem said on Tuesday it expects to start operating a $650 million cogeneration power plant for Mexico’s state oil company, Pemex, in the first half of 2018.

Pemex said that Mexichem had won a contract for the plant, called Cogeneracion Cactus, in partnership with Enesa Energia, a company part-owned by telecoms billionaire Carlos Slim and U.S.-based Invenergy Clean Power.

The plant, at a Pemex gas processing complex in Tabasco state in Mexico’s southeast, will have preliminary capacity to generate 530 megawatts of power, according to the Mexichem statement.

Slim’s Grupo Carso conglomerate held 42.15 percent of Enesa at the end of February, according to Carso’s annual report. (Reporting by Elinor Comlay; Editing by Peter Galloway)

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