Coastal Contracts’ Mexican JV signs expansion deal with Pemex

Coastal Contracts said the contract is expected to contribute positively to the earnings and net assets of the company.

PETALING JAYA: Coastal Contracts Bhd, via the joint venture company with its Mexican partner Grupo Empresarial Alfair SAPI De CV, recently signed an addendum to the contract with Mexican state-owned petroleum company Petroleos Mexicanos (Pemex).

Under the addendum, Pemex has agreed to increase the unit price for the gas sweetening services of the contract to compensate Coastoil Dynamic SA De CV, the joint venture company, for the expansion of plant capacity from 150 million standard cu ft per day (mmscfd) to 180 mmscfd since November 2021, Coastal Contracts said in a filing with Bursa Malaysia yesterday.