July 16, 2018 [Energy News] - CLH has signed an agreement with the Mexican company HST (Hydrocarbon Storage Terminal SAPI) to acquire 60% of the share capital of this company. Its goal is to develop the construction and operation project of a new petroleum product storage facility located in the metropolitan area of the Valley of Mexico.
The new facility, to begin operations in 2020, is one among the 149 authorized storage facilities following the sector liberalization, which was until 2017 monopolized by state-owned Pemex. The facility will have a capacity of nearly 100,000 cubic meters, and will be located in a strategic area with excellent connections to oil pipelines, rail and highway in one of Mexico´s areas with the highest consumption of petroleum products.
Internationalization of CLH
For the CLH Group, this operation is a new impetus to the company’s internationalization process, following the projects of United Kingdom, Ireland, Oman, and Panama, and consolidates its position in Mexico, thanks to HST, a 100% Mexican company that has actively collaborated in the development of the public storage policy set by the Energy Secretariat.
In the spring of 2015, CLH acquired GPSS (Government Pipeline and Storage System), the most important gas pipeline network in the United Kingdom, for 113 million euros. A little later, in June 2016, the CLH Group took effective control of the fuel storage terminal at Dublin airport.
Chronologically, in October 2017, CLH Aviacion was awarded the tender convened by the Government of Panama for the supply of fuel to five airports and the operation and maintenance of their respective facilities.
More recently, OLC, participated by CLH, inaugurated the Mascate-Sohar pipeline and the Al Jefnain terminal in Oman. 336 million euros were invested in the pipeline.
Jorge Lanza, the CEO of CLH, appreciates the enormous potential of the development of logistics infrastructures in Mexico and the great complementarity achieved by CLH with the acquisition of 60% of HST’s capital.
On the other hand, the General Director of HST, Edgar Gutiérrez believes that this partnership will involve greater confidence of the clients and new projects in the medium term.
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