Mexico to put US$4.9B in energy projects up for private bids
Part of nation's plan to open state-run oil and gas, electricity industries to private, foreign firms
MEXICO CITY—Mexico says it expects to put out for bids US$4.9 billion in electrical generation and natural gas pipeline projects as part of the opening of the nation’s state-run energy sector.
The Federal Electricity Commission wants to build several power plants, but didn’t set a date for the opening of bidding.
Commission director Enrique Ochoa said the bidding will be open to private and foreign firms.
The government wants to build more natural gas-fired plants in an attempt to reduce costs.
Mexico has high electricity rates, which officials say limits the growth of some businesses.
Some of the pipelines would be built in Texas, to take advantage of cheaper gas from the United States.
Mexico began opening its oil and electricity industries to private and foreign firms earlier this month.