CITY - China National Corporation for Overseas Economic Cooperation (CCOEC)
is set to invest $2.15 billion in Mexico’s energy sector, the company
said on Friday.
CCOEC signed the $2.15-billion agreement with the government of Mexico’s
northern state of Durango at the 2015 China-Mexico Trade and Investment
Expo and Forum, held here from Nov10-12.
The project, in which the CCOEC will be the main investor, calls for the
construction of a combined cycle plant with a capacity of 1,500
The plant "will be built over three different stages of 500 (MW) each,"
Durango’s Secretary of Economic Development Ricardo Navarrete Gomez told
Xinhua. "Each stage will be developed over a two-year period, generating
1,500 direct jobs."
According to Navarrete, China will finance 85 percent of the investment,
with the remaining 15 percent coming from Mexican sources.
"This is quite a large investment for Durango, but it opens up future
investment" possibilities, he added.
CCOEC’s President Huo Xuejun said bilateral businesses in various fields
have been "steadily"strengthened.
Huo said his company "is pleased with all the structural reforms Mexico
has undertaken" in the past three years, especially the opening-up of
the energy sector, which provides both foreign and Mexican private firms
with opportunities to venture into the industry.
Bao Ronglin, the head of Zhonghua Business Owners Association, one of
the forum’s organizers,told Xinhua that the project, set to begin in
March 2016, is certain to "lead to new jobs andeconomic development in