MOSCOW (Sputnik) — The refineries in the states of Hidalgo, Oaxaca, Nuevo Leon, Tamaulipas, Veracruz and Guanajuato will receive the funds in the next three years.
"Pemex [state oil company] and the government will continue investing in his huge enterprise, which is property of all Mexicans," the president said Tuesday announcing the investment.
According to Pena Niet, the investment became possible due to the reform of the country’s energy sector. The modernization of the refineries will allow to significantly cut down the harmful emissions, and will create tens of thousands of job, the president said.
Since December 2013, Mexico has undertaken major energy reforms, and for the first time in almost 80 years the state-run oil company Pemex and the Federal Electricity Commission (CFE) have been granted permission to make deals with private companies, attracting private investment in the development, extraction, transport and storage of oil, gas and electricity.