AP News: Mexican government to handle construction of oil refinery
The Mexican government and state-owned oil company Pemex will oversee construction of a new $8 billion refinery after international companies bidding for the project could not meet the government’s time or budget requirements, President Andrés Manuel López Obrador said Thursday.
Even before the announcement, the project had been criticized as not making financial sense for deeply indebted Pemex and concerns were voiced about the budget and timeframe being unrealistic.
Energy Secretary Rocío Nahle will run the project along with Pemex, López Obrador said. Construction of the refinery in the port of Dos Bocas, Tabasco will begin June 2 and be completed in three years, he added.
Mexico has not built a new refinery in 40 years, but the president said that certain parts of the project will still be put up for bidding by Mexican and foreign companies.