Pemex to invest in fertilizer plants

Pemex to invest in fertilizer plants

Economy & Policy Mexico Russia China Commerce Oil Energy

Mexico's state-owned oil company Pemex plans to invest $300 million to renovate three fertilizer plants over the next two years, responding to higher prices and lower supply from Russia and China, CEO Octavio Romero said on Monday. Specifically, Pemex needs to spend $144 million to upgrade Grupo Fertinal in the western state of Michoacán along with $100 million for the Cosoleacaque plant and $56 million for the Pro-Agroindustria plant in the state of Veracruz on the Gulf of Mexico, Romero said d

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