Ottawa, Ontario - Foreign Affairs, Trade and Development Canada

The Honourable Ed Fast, Minister of International Trade, today congratulated ATCO, a Calgary-based structures, logistics, utilities and energy company, for being selected by Petróleos Mexicanos (PEMEX) to begin the project development and approval process for a natural gas cogeneration plant in the state of Hidalgo, Mexico.

ATCO will develop this project in partnership with Grupo Hermes, a local partner. The project’s estimated cost is US$820 million. This is ATCO’s second project win in Mexico. On October 9, 2014, Mexico’s Federal Electricity Commission (CFE) awarded ATCO a contract to build and operate a natural gas pipeline in Hidalgo. That project was valued at approximately US$50 million.

The Trade Commissioner Service office in Mexico, working closely with Export Development Canada, supported ATCO’s entry into the Mexican market by providing the company with market intelligence and on-the-ground support.

These contracts coincide with Mexico’s recent announcement of its ambitious energy reforms. Mexico’s energy sector presents a growth opportunity for Canadian equipment and service suppliers in the oil and gas, sustainable technologies and renewable energy sectors. Mexico is a priority market under Canada’s Global Markets Action Plan.

Quick Facts

• Mexico is Canada’s third-largest trading partner, with bilateral trade amounting to more than $32 billion in 2013—a sevenfold increase since the North American Free Trade Agreement took effect in 1994.
• This year marks the 70th anniversary of diplomatic relations between Canada and Mexico.
  • ATCO Group has more than 9,000 employees and assets of approximately $17 billion.
  • Under Canada’s Global Markets Action Plan, Canadian companies can count on the support of the Trade Commissioner Service, as well as support from Export Development Canada, the Canadian Commercial Corporation and the Business Development Bank of Canada, to boost their exports and succeed abroad.

Quotes

“As this year marks the 20 anniversary of NAFTA, I welcome the success of ATCO in Mexico. Under the Global Markets Action Plan, our government will continue to provide our companies with support, such as that provided by our Trade Commissioner Service and Export Development Canada, to help them grow and create jobs and prosperity at home.”

- Ed Fast, Minister of International Trade

 

 

src:news.gc.ca