IEnova to spend USD 800 million on projects

Mexico

MEXICO CITY, January 17, 2017 – Sempra Energy’s Mexican unit IEnova has earmarked USD 800 million for investment in eight projects in 2017, CEO Carlos Ruiz Sacristan said in a statement on Monday.

Chief among these projects is an underwater pipeline between Texas and Tuxpan, situated on the Gulf of Mexico. North American energy major TransCanada will team up with IEnova for the development of the pipeline. IEnova will commit USD 500 million to the project, which requires USD 2 billion in total.

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