Pemex, CFE plan US$25bn in infra investments

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Wednesday, November 26, 2014

Mexico's state oil firm Pemex and power utility CFE will invest around 350bn pesos (US$25.5bn) in infrastructure in 2015, according to the finance ministry (SHCP).

The investment will be channeled into oil and gas exploration and production, petrochemical facilities and strategic and electricity infrastructure, SCHP undersecretary for expenditure Úrsula Carreo Colorado told state newswire Notimex.

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The investment projects will be approved by the state-owned firms' boards of directors, except for the CFE's investment in electricity generation projects, which are long-term and will be greenlighted by the SHCP.