Sign in to comment!

Menu
Home

World

Mexico plans to put $4.9 billion in electricity projects, natural gas pipelines up for bid

Mexico says it expects to put out for bid $4.9 billion in electrical generation and natural gas pipeline projects as part of the opening of the nation's state-run energy sector.

The Federal Electricity Commission wants to build several power plants, but didn't set a date for the opening of bidding.

Commission director Enrique Ochoa said Monday the bidding will be open to private and foreign firms.

The government wants to build more natural gas-fired plants, to reduce costs. Mexico has high electricity rates, which officials say limits the growth of some businesses.

Some of the pipelines would be built in Texas, to take advantage of cheaper U.S. gas.

Mexico began opening its oil and electricity industries to private and foreign firms earlier this month.

See the latest updates on the hottest midterm races from Fox News

Full Elections Coverage →

Keep up with all the 2014 races in

Coverage →