General Announcement::PROJECT TO DEVELOP MARINE TERMINAL IN BAJA CALIFORNIA

Issuer & Securities

Issuer/ Manager
INFRAESTRUCTURA ENERGETICA NOVA, S.A.B. DE C.V.
Securities
INFRAESTRUS$540M4.875%N480114A - US456829AB67 - 8DTB
INFRAESTRUS$540M4.875%N480114R - USP56145AB40 - 8DUB
INFRAESTR US$300M3.75%N280114A - US456829AA84 - 8DWB
INFRAESTR US$300M3.75%N280114R - USP56145AA66 - 8DXB
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
13-Apr-2018 00:12:59
Status
New
Announcement Sub Title
PROJECT TO DEVELOP MARINE TERMINAL IN BAJA CALIFORNIA
Announcement Reference
SG180413OTHROS3P
Submitted By (Co./ Ind. Name)
RODRIGO CORTINA CORTINA
Designation
CORPORATE LEGAL DIRECTOR
Effective Date and Time of the event
12/04/2018 17:00:00
Description (Please provide a detailed description of the event in the box below)
IENOVA ANNOUNCES PROJECT TO DEVELOP A MARINE TERMINAL TO RECEIVE, STORE, AND DELIVER REFINED PRODUCTS IN BAJA CALIFORNIA

With an investment of approximately $130 million U.S. dollars, IEnova will develop, construct, and operate the Baja Refinados terminal
100% of the 1 million barrels of initial storage capacity is reserved under long-term contracts with two of the world s largest multinational oil companies

Mexico City, April 12, 2018 IEnova, through an affiliate, announced a project to develop, construct, and operate a marine terminal that will receive, store, and deliver hydrocarbons, primarily gasoline and diesel within the La Jovita Energy Center, which is located 23 km north of Ensenada, B.C., Mexico.

The project called Baja Refinados will enhance supply options, improve logistics, and increase refined product supply reliability in Baja California, which will translate into benefits for consumers in the region. With an investment of approximately $130 million U.S. dollars, the terminal will generate around 600 jobs during construction. The terminal is expected to begin commercial operations in the second half of 2020.

IEnova, through its affiliates, will be responsible for all aspects of project implementation, including permitting, engineering, procurement, construction, financing, operations, and maintenance of the terminal.

IEnova also signed a long-term contract with Chevron Combustibles de Mexico S. de R.L. de C.V. for the storage and delivery of hydrocarbons, primarily gasoline and diesel. The agreement will allow Chevron Combustibles de Mexico S. de R.L. de C.V. to utilize approximately 50% of the terminal s storage capacity. Additionally, another subsidiary of Chevron will have the right to acquire 20% of the equity of the terminal after commercial operations begin. Chevron Combustibles de Mexico S. de R.L. de C.V. is a subsidiary of Chevron Corporation, which is one of the largest refiners on the west coast of the United States of America. The Baja Refinados Terminal will allow Chevron to supply its growing network of Chevron fuel retail stations in Baja California, as well as commercial and industrial consumers.

In addition, IEnova executed a second long-term contract for the storage and delivery of hydrocarbons with another global oil company. Together, these two contracts represent 100% of the initial 1 million barrels of terminal storage capacity. An affiliate of this company also has the option to acquire 20% of the equity of the terminal after commercial operations begin.

This is IEnova s fourth refined product terminal in the country, which is consistent with its commitment to position itself as a leader in the refined fuels storage and transport sector, as well as contribute to Mexico s energy infrastructure development. This transaction also enriches IEnova s portfolio of customers by adding two world-class refining and fuel marketing companies.


About IEnova
IEnova, a Sempra Energy Company, develops, constructs, and operates energy infrastructure in Mexico. With nearly 900 employees and approximately $7.6 billion dollars invested in the country, IEnova s portfolio includes various business lines across the Mexican energy value chain. IEnova is the first energy infrastructure company to be listed on the Mexican Stock Exchange, and it is the only energy company that is included in the IPC Sustainability Index.

Attachments

Evento Relevante Terminal Baja Refinados eng 12 abril.pdf
Total size =359K