Alpek SAB (ALPEKA), Mexico’s largest petrochemical company, plans to build a $130 million power plant in the state of Veracruz.
The plant, in the city of Cosoleacaque, will have capacity of more than 85 megawatts, Enrique Flores, a spokesman for Alpek’s majority owner, Alfa SAB (ALFAA), said today. It will generate steam and electricity for an Alpek factory that makes polyethylene terephthalate, known as PET and used in fibers and containers, and for another making purified terephthalic acid, known as PTA and used in plastic bottles.
“Any additional electricity that goes beyond the needs of those plants will be sold to other Alfa companies in other parts of Mexico,” Flores said in a telephone interview from Alfa’s headquarters in San Pedro Garza Garcia, Mexico.
Alpek awarded the contract to build the plant to a group led by Bilbao, Spain-based Sener’s Mexican unit, Sener said in a statement today. The plant is expected to be finished in February 2014.
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