CLH signs an agreement with HST for new storage facility in Mexico
Spanish midstream company CLH has signed an agreement to acquire 60% of Mexico-based HST, with the aim of developing the project for the construction and operation of a new facility for the storage of oil products in the metropolitan area of the Valle de México.
The new facility will launch its operations in 2020 with a capacity of almost 100,000 cbm and is strategically positioned with excellent connections to the oil pipeline system, railways and motorways in one of the areas with the highest level of consumption of oil products in all of Mexico.
The President of the CLH Group, José Luis López de Silanes, has highlighted that “this operation constitutes a new step forward in the company’s process of internationalisation and one which enables us to continue to move forward in the American continent, following the contract secured last year in Panama for the supply of fuel to five airports in that country.”
Chief Executive Officer, Jorge Lanza, emphasised the “enormous potential involved in the development of logistics infrastructure in Mexico and the highly complementary nature of the skills shared by CLH and HST, combining the international experience that CLH has in operating pipelines and storage terminals in Europe – involving almost 10 million cbm – together with the important preparation that the HST team can contribute to the development of projects in Mexico.”
In addition to this, the General Manager of HST, Edgar Gutiérrez, announced that this partnership represented the consolidation of a long project and confirmed that “we are extremely happy with the added value and the level of experience that CLH can contribute to our society. I am convinced that this is a decisive step forward towards boosting the trust of our clients and continuing to undertake further projects in this emerging market in Mexico.”
With this new project, the CLH Group launches its fifth international operation, following the projects that are already underway in the UK, Ireland, Oman and Panama. The emerging opportunities for the development of infrastructure in Mexico are strengthened by the liberalisation process of the energy sector and the growing level of consumption that the country is experiencing.
For more information, visit: www.clh.es
11th July 2018