Sempra to build $300-million Mexico gas pipeline near US border
11/26/2014
By BEN BAIN
Bloomberg
Infraestructura Energetica Nova SAB led gains in Mexico after winning a 25-year government contract to build and operate a natural-gas pipeline near the US border.
Ienova, as the company is known, climbed 1.2% to 81.58 pesos at 11:04 a.m. in Mexico City.
The unit of US utility Sempra Energy has surged 140% since its March 2013 initial public offering, compared with a 4.8 percent gain for the IPC index.
The Mexican government awarded Ienova a contract to construct a 205-kilometer (127-mile) pipeline in Chihuahua state near the US-Mexico border, the company said in an e-mailed statement.
The pipeline, which will be in operation by 2017, requires a $300 million investment, it said.
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