With AMLO as President, Private Sector is investing 100 billion dollars in the energy sector

Jan 30, 2020 – Contrary to what the media and opposition interest groups repeat about the upcoming economic doomsday, the reality is that investment is coming to Mexico and in abundance.

According to La Jornada newspaper, the Private finance Initiative is investing up to 100 billion dollars in Mexico’s energy sector.

These investments were announced by Alfonso Romo Garza, head of the executive office of liaison of President, Andrés Manuel López Obrador, to the national business sector.

The announcement of the investment program of 100 billion dollars for the energy sector, which is higher than the balance of public external debt, will be presented by both the private sector and the federal government; which will include the alliances of Petróleos Mexicanos with private firms and supported by special contracts.

President López Obrador’s chief of staff indicated that there will be more than 137 projects with the main
objective to boost investment levels to trigger economic growth.

The Federal Government will Institute the projects with private financial initiative no later than February this year.

As we had already reportered here in SinLinea, there will be 137 projects worth between $95 and $100 billion dollars.

“The plans could be reduced or expanded,
because we are receiving more [projects]. In the first meeting we
received 137 [projects], but there are more are coming because
development is ongoing.”

The Romo Garza assured that the national private sector initiative and the federal government have plans to
participate in any type of investment project in clean energy and farmouts with PEMEX.

“There are all kinds of projects. Clean energy, infrastructure, storage, and gas pipelines, and in all sectors. If exploration and production is needed, we will define that in the next three weeks, but there will be special contracts in case there are no immediate resources available. Projects will be based on PEMEX’s risk assessments, but at this moment is a fluid situation.”

Continuing,

“The idea is to give certainty to the investment. We have to have legal and regulatory certainty, and that is what we are going to work on. We are not going to stop anything that affects our Country’s growth. We will include everything needed to reach a positive outcome, and in the next three weeks, we’ll defne the final stops,”

stressed Romp Garza.