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Numero Uno In Cuba


International Outlook: GLOBAL WRAPUP

NUMERO UNO IN CUBA

Mexico has been cementing its status as the leading foreign investor in Cuba. Mexpetrol, a joint venture of Pemex, Mexico's state-owned oil company, and several private industrial and engineering companies, has purchased a 49% holding in the Cienfuegos refinery in Cuba. The Mexicans have made a $200 million investment with Cuba's oil company, Cupep. The infusion of capital is aimed at modernizing the refinery in order to allow Cuba to earn hard currency by exporting oil.EDITED BY STANLEY REED


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