The state company CFE said that two of its subsidiaries signed supply contracts for 81,000 million BTU of natural gas per day for a future fertilizer plant in Sinaloa, owned by the Swiss company Proman.
The plant, which will produce 2,200 metric tons of anhydrous ammonia per day in a first stage, is a project that the firm Gas y PetroquÃmica de Occidente, a subsidiary of Proman, is developing in Topolobampo.
The CFE said that the agreement will allow it to generate revenues of more than 2,000 million dollars during the term of the contracts and take advantage of a surplus of natural gas transportation capacity. In addition, it will contribute to its consolidation as an energy company by adding additional services to those of electricity.
The state company did not immediately respond to a query from Reuters about where it will bring the natural gas to meet the supply contracts and when they come into force.
The factory construction plan includes a second phase to produce another 2,200 metric tons of ammonia, based on the production of fertilizers, and a plant for the production of methanol, according to information in its .
The initial committed investment is 1,250 million dollars and is expected to reach 5,000 million dollars in a period of 10 years. The company does not specify when the construction of the complex will be completed but indicates that in 2013 the development of the first phase project began.
The CFE specified in a relevant event sent to the Mexican Stock Exchange that the fertilizer plant will generate 2,500 direct jobs and 7,500 indirect jobs during the construction stage of the plant.
With information from Reuters
