Monterra Energy, a company supported by investment firm KKR to pursue opportunities in the Mexican energy sector, plans to build a fuel storage terminal in Puebla. For that end, the Houston-based company is looking to acquire land in the central state to keep the project going, revealed Bloomberg in recent days citing people with knowledge of the matter.
The new fuel terminal aims to supply about half of Puebla’s gas stations, which total more than 500, said one of the sources to Bloomberg.
Monterra Energy received authorization last March from Mexican regulators to build a gasoline, diesel and jet fuel pipeline and fuel storage terminal totaling an estimated US$ 600 million investment due to be operational in the second half of 2018.
The pipeline will run from the port of Tuxpan, Veracruz, to Tula, Hidalgo, in central Mexico and has capacity of 165,000 barrels a day, the company said last year in a press release.