IEnova Begins Operation of the Marine Terminal for the Receipt, Storage and Delivery of Refined Products in the New Port of Veracruz

- This project represented an investment of US$300 million 
- The terminal has a capacity of more than 2 million barrels for the storage of gasoline, diesel, jet fuel and oxygenating additives 
- Its construction generated over 5,500 direct and indirect jobs

Veracruz, Veracruz, Dec. 7, 2020 – Infraestructura Energética Nova, S.A.B. de C.V. (“IEnova”), began the commercial operations of its new marine terminal for the receipt, storage and delivery of refined products in the New Port of Veracruz. The project represented an investment of more than US$300 million and the creation of more than 5,500 direct and indirect jobs. 

With a capacity of more than 2 million barrels, whose main client will be Valero — one of the most important hydrocarbon refiners worldwide — the terminal will store gasoline, diesel, jet fuel and oxygenating additives, fostering more competitive prices and enhancing energy security of the Gulf-Center region. This infrastructure will allow access to international sources of supply of refined products that will meet the growing demand for fuels contributing to the regional energy integration and will help position Veracruz as a reference in this market. This terminal is part of a logistics project in the central region that includes two other land terminals in the Puebla and Mexico City areas, which will be linked by railroad and tank trucks. 

"We are very proud of the beginning of operations of our refined products terminal in Veracruz, which will allow us to benefit the local economy, as well as helping to ensure energy security for the development, competitiveness and well-being of the country, providing reliable, efficient and safe supply of fuels," said Tania Ortiz Mena, CEO of IEnova. 

This project was awarded to IEnova through a public tender by the Integral Port Administration ("API") of Veracruz. IEnova worked together with regulators, the Veracruz government and other stakeholders to complete an energy infrastructure work with cutting-edge technology and international best practices in safety and environmental care. 

On Dec. 1, Valero's first tanker was received with 330 thousand barrels of Regular and Premium Gasoline from one of its refineries in the Gulf of Mexico, as part of the testing period. 

Carlos García, Executive Director, Mexico Commercial Operations of Valero indicated, "We are very excited to be able to work with IEnova to supply the market through this important infrastructure. The beginning of operation is a new milestone in the company's long-term pledge and commitment to Mexico." 

This is IEnova’s first terminal to start commercial operations and it is part of a portfolio consisting of six other refined product receipt and storage terminals under development, located in Baja California, Colima, Jalisco, Puebla, Sinaloa and the Valley of Mexico. These projects reaffirm the company's commitment to Mexico's development, well-being and energy security through investment in energy infrastructure, as well as the resilience of its business model within a challenging environment.

About IEnova 
IEnova is a leading Mexican company in the development, construction and operation of energy infrastructure in Mexico. It has the talent of 1,300 employees, has a presence in 17 states of the Mexican Republic and has invested about $9.6 billion in total assets during its 23-year history. Its business strategy within the energy sector integrates the transport, storage and distribution of gas (natural, ethanol and LP), as well as the generation of electricity and storage of refined products. IEnova is committed to generating economic, social and environmental well-being for the communities in which it operates, always working and collaborating in adherence to a framework of ethics, security and respect. The company was the first energy infrastructure company to be listed on the Mexican Stock Exchange and the only company in this sector that is part of the S&P/BMV Price and Quote Index and the ESG/BMV Sustainable IPC; part of the Dow Jones Sustainability Indexes, it has the distinction as one of the "Best Places to Work," in addition to being part of the Top 10 of the "500 Anti-Corruption Companies." IEnova is energy for Mexico. For more information, visit www.ienova.com.mx; @IEnova_MX

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Sempra , Financial News