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    Mexico Auctioning $4.9Bln of Utility Projects

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    Mexico's state-owned electric utilities company CFE plans to put 16 infrastructural projects worth $4.9 billion up for auction, the company's CEO Enrique Ochoa Reza said.

    MEXICO CITY, August 19 (RIA Novosti) - Mexico's state-owned electric utilities company CFE plans to put 16 infrastructural projects worth $4.9 billion up for auction, the company's CEO Enrique Ochoa Reza said.

    "These 16 infrastructural projects will require about $4.9 billion in investment, and putting them in operation will allow CFE to offer consumers a higher-quality service at a lower price, which will benefit all Mexicans," Reza said.

    The projects are part of the state’s energy sector reform. They include two gas pipelines, two branch lines, three combined cycle power stations, the renovation of a hydroelectric power plant, three transmission lines and five packages to improve power distribution around the country.

    Mexico decided to reform its energy sector at the end of last year. Oil company Pemex, owned by the state since 1938 and the Federal Electricity Commission, or CFE, were granted the right to sign contracts with private companies and to attract private investment in the development, extraction, transport and storage of oil, gas and electricity.

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    electricity, economy, energy, Mexico
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