Coastal Contracts wins project to build a gas plant in Mexico

Coastal Contracts fully owned Agosto 12, operating in the Gulf of Mexico since August 2016. The gas plant project marks the group business expansion in Mexico.

KUALA LUMPUR: Coastal Contracts Bhd and its Mexican joint venture partner has secured a project to build a RM258.7mil gas processing plant in Mexico.

The onshore gas "sweetening" plant project, to be constructed at Ixachi field in Veracruz, is for Petroleos Mexicanos (Pemex), the Mexican state-owned petroleum company.

In a Bursa Malaysia filing today, Coastal Contracts said it has a 50% equity interest in the joint venture, while its Mexican business partner, Grupo Empresarial Alfair SAPI de CV, part of the Nuvoil Group of companies, will hold the remaining 50% stake.