General Announcement::IENOVA AND CHEVRON SIGN LONG-TERM CAPACITY CONTRACT

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
14-Sep-2018 01:10:37
Status
New
Announcement Sub Title
IENOVA AND CHEVRON SIGN LONG-TERM CAPACITY CONTRACT
Announcement Reference
SG180914OTHR4VDI
Submitted By (Co./ Ind. Name)
RODRIGO CORTINA CORTINA
Designation
CORPORATE LEGAL DIRECTOR
Effective Date and Time of the event
13/09/2018 17:00:00
Description (Please provide a detailed description of the event in the box below)

IENOVA AND CHEVRON SIGN LONG-TERM CAPACITY CONTRACT AT THE MARINE TERMINAL FOR THE RECEIPT, STORAGE, AND DELIVERY OF REFINED PRODUCTS IN TOPOLOBAMPO, SINALOA


With an investment of approximately $150 million U.S. dollars, IEnova will develop, construct, and operate the Topolobampo Terminal
IEnova signed a long-term contract with Chevron Combustibles de Mexico S. de R.L. de C.V.
The terminal will have an initial storage capacity of approximately 1 million barrels


Mexico City, September 13, 2018 IEnova, through an affiliate, announced the execution of a long-term contract with Chevron Combustibles de Mexico, S. de R.L. de C.V. for the storage and delivery of refined products, primarily gasoline and diesel, at the terminal for the receipt, storage, and delivery in Topolobampo, Sinaloa, Mexico.

The agreement will allow Chevron Combustibles de Mexico S. de R.L. de C.V. to utilize approximately 50% of the terminal s initial storage capacity. Additionally, another subsidiary of Chevron will have the right to acquire up to 25% 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 Topolobampo Terminal will allow Chevron to supply its growing network of Chevron retail fuel stations in Northwestern Mexico, as well as commercial and industrial consumers.

In addition, IEnova executed a second long-term contract for the storage and delivery of refined products with a U.S. large independent refiner. Together, these two contracts represent 100% of the initial 1 million barrels of terminal storage capacity.




IEnova will be responsible for all aspects of project implementation, including permitting, engineering, procurement, construction, financing, operations, and maintenance of the terminal. With an investment of approximately $150 million U.S. dollars, the terminal is expected to begin commercial operations in the last quarter of 2020.

The project will enhance supply options, improve logistics, and increase refined product supply reliability in the West Coast of Mexico, which will translate into benefits for consumers in the region.

Attachments

Agosto2018_IEnova_Evento Relevante Topolobambo.pdf
Total size =304K