24 de mayo de 2019
ÚLTIMAS NOTICIAS:
English - News

Mexico hails Iberdrola's $5 bn investment plan

 A view of the meeting on May 15, 2019, at the National Palace between the chairman and CEO of Iberdrola, Ignacio Galan (right), and Alfonso Romo, the chief of staff of Mexican President Andres Manuel Lopez Obrador. EPA-EFE/Alejandra Cardenas

A view of the meeting on May 15, 2019, at the National Palace between the chairman and CEO of Iberdrola, Ignacio Galan (right), and Alfonso Romo, the chief of staff of Mexican President Andres Manuel Lopez Obrador. EPA-EFE/Alejandra Cardenas

Mexico City, May 15 (efe-epa).- Mexico's government on Wednesday celebrated Spanish electric utility Iberdrola's plans to invest up to $5 billion in the Aztec nation during President Andres Manuel Lopez Obrador's six-year term.

It said those outlays would contribute to the country's development.

"This investment they're announcing today reflects the confidence that investors have in our country, which translates into greater wellbeing for those who have less," the presidential chief of staff, Alfonso Romo, said after meeting with Iberdrola's chairman and CEO, Ignacio Galan, who is visiting Mexico.

Romo, who also is president of the Council for the Promotion of Investment, Employment and Economic Growth, was quoted as saying in a joint bulletin by the government and Iberdrola that he is convinced that public and private cooperation is key to Mexican growth.

The CEO of Iberdrola, whose presence in Mexico dates back two decades, outlined the company's plans to invest $5 billion through the end of 2024 during his meeting Wednesday at the National Palace with Romo.

He also confirmed Iberdrola Mexico's interest and confidence in Mexico's economy and said the company was attracted by a favorable investment climate.

"We're firmly committed to Mexico's energy and economic development, the strengthening of its industrial sector and the creation of quality jobs. Always through the most efficient and clean energy sources," Galan added.

The company plans to invest up to $5 billion in new power plants, both gas-fired and renewable generation facilities, during the 2019-2024 period to meet Mexico's growing energy demand.

Iberdrola's investment commitment is one of the first tangible results achieved by the council, which was launched in February to bring together public and private interests.

Thousands of jobs will be created during the construction phase of the new projects, adding to the 25,000 jobs the company has created over the past five years.

A total of 450 people will be employed directly and 2,500 indirect jobs will be created during the operation phase of these plants, according to official estimates.

The leading Spanish energy group also will contribute to Mexico's economic growth by making purchases totaling more than $3 billion from Mexico's industrial sector.

In 2019, the company will complete work on five new plants and start construction on three power stations: a combined-cycle plant in Tuxpan (Veracruz state), a co-generation plant in San Juan del Rio (Queretaro state) and a solar park in the state of Puebla.

In total, those three power stations will have an investment cost of $1 billion and installed capacity of 1.5 gigawatts (GW).

Iberdrola Mexico currently has 20 power plants in 13 states with a combined installed capacity of 7.4 GW. Around 60 percent of those plants supply electricity to private clients.

Iberdrola, which has a presence in Spain, the United Kingdom, the United States and Brazil, employs 1,300 people in Mexico.

Comentarios

Histórico de noticias
High-rise shacks becoming common sight in housing-challenged Brazilian city

Laura Lopez

Experts stress using digital tools to make Colombian companies more dynamic

Cali, Colombia, May 23 (efe-epa).- Increasing human beings' use of digital tools is the vehicle whereby Colombia's business sector will develop, several...

Trump pledges another $16 bn for farmers hurt by Chinese tariffs

Washington, May 23 (efe-epa).- President Donald Trump on Thursday approved a second aid package for US farmers, this one for $16 billion, with the aim of...

US charges Julian Assange with espionage

Washington, May 23 (efe-epa).- The US Department of Justice announced Thursday a new indictment of WikiLeaks founder Julian Assange that includes an...

Pelosi stays firm vs. Trump on cover-up claim

By Alex Segura Lozano

What will happen to Cuba's anti-imperialist grandstand at US Embassy?

By Lorena Canto

Tornadoes kill at least 3 in Missouri

Washington, May 23 (efe-epa).- At least three people were killed by tornadoes in the Midwestern US state of Missouri, Gov. Mike Parson said Thursday.

Argentine cooperative provides new lease on life for former inmates

Cristina Terceiro

Costa Rican president rejects military option in Venezuela, Nicaragua

Douglas Marin

Massive seaweed influx in Cancun's hotel zone

Cancun, Mexico, May 22 (efe-epa).- The hotel zone along the beaches in the Mexican resort city of Cancun on Wednesday experienced a massive influx of...

Journalism in digital age must rethink how to reach its audience

By Gina Baldivieso

US jury sentences Spaniard to life in prison for triple-murder

Fort Lauderdale, Florida, May 22 (efe-epa).- Spaniard Pablo Ibar, convicted in January after a third trial for his part in a 1994 triple-murder, was...

With electricity, gasoline, Caracas is oasis of sorts amid Venezuelan crisis

By Hector Pereira

Judge upholds congressional subpoenas for Trump's financial info

New York, May 22 (efe-epa).- A federal judge ruled here Wednesday that two financial institutions can turn over information sought by US lawmakers regarding...

US senator seeks answers after 5th migrant youth dies in custody

Washington, May 22 (efe-epa).- Democratic Sen. Elizabeth Warren sent a letter Wednesday to the acting head of US Customs and Border Protection (CBP)...

Craft-making on the decline in southern Mexico due to lack of pupils

By Mitzi Mayauel Fuentes Gomez

Bucking US sanctions, American Airlines expands flights to Cuba

Havana, May 22 (efe-epa).- American Airlines, the leading international carrier serving Cuba, said Wednesday that it intends to offer additional flights to...

Pelosi accuses Trump of cover-up, president says he won't work with Dems

Washington, May 22 (efe-epa).- Democratic House Speaker Nancy Pelosi said Wednesday the President Donald Trump is engaged in a "cover-up" to hide possible...

Colombian builds thriving wafer dessert business from humble origins

Jeimmy Paola Sierra

Uruguayan recording artist sees music as ritual, emotional journey

Concepcion M. Moreno

A darker side of Paraguay flooding: isolation of elderly

By Carlos Villar Ortiga

Raul Castro, Diaz-Canel express support for Venezuela's Maduro

Havana, May 21 (efe-epa).- The head of the Cuban Communist Party, Raul Castro, and Cuban President Miguel Diaz-Canel met with Venezuelan Foreign Minister...

Argentine ex-president's corruption trial gets under way

Buenos Aires, May 21 (efe-epa).- Argentine ex-President Cristina Fernandez faces charges of diverting public funds and accepting kickbacks in a trial that...

UN forecasts global economy to grow 2.7 pct. in 2019, 2.9 pct. in 2020

United Nations, May 21 (efe-epa).- The United Nations on Tuesday downgraded its forecast for world economic growth, announcing that it expects overall...