ATCO Mexico

ATCO Mexico

June 30, 2015 17:11 ET

ATCO Mexico Celebrates First Year With New Office Opening and Sights Set on New Projects

MEXICO CITY, FEDERAL DISTRICT MEXICO--(Marketwired - June 30, 2015) - ATCO Mexico is celebrating its first anniversary in Mexico today with the opening of its new Mexico City office. The office will support the company's two existing projects in the region and the pursuit of new business opportunities and local partnerships in the country.

"Our business has been built upon establishing strong local partnerships no matter where we operate in the world," said Nancy Southern, Chair, President & Chief Executive Officer, ATCO, who is in Mexico to celebrate the company's important milestone.

"The opening of our new office is an important step in our long-term commitment to Mexico where we have a fierce desire to succeed and participate in the transformational change of the energy industry under way in this country," she added.

Since the company's arrival in Mexico last year, ATCO Mexico's growth has been modelled after ATCO's strategy in Canada and Australia, which is to develop, build, own and operate new energy infrastructures assets. ATCO's long history and worldwide expertise in the complementary yet diverse industries of power generation, electricity and natural gas transmission and distribution, gas processing and storage, and workforce accommodations and site services, favourably position the company for the opportunities in Mexico's newly reformed energy market.

Tula Lateral Natural Gas Pipeline

ATCO Mexico's Gas & Pipelines Division is working on its first project in the country, the Tula Lateral Pipeline project, which was awarded to ATCO on Oct. 9, 2014, by the Comisión Federal de Electricidad (CFE). The pipeline will run through the municipalities of Tula de Allende, Atotonilco de Tula and Atitalaquia, all in the State of Hidalgo and will transport natural gas from PEMEX's Zempoala - Santa Ana system to the CFE's Tula Combined Cycle and Francisco Pérez Ríos power generation plants.

The Francisco Pérez Ríos power plant is in the process of being upgraded so that it can use cleaner natural gas to generate electric power. Both power plants currently have an installed generation capacity of 2,194 megawatts (MW).

The project is in the construction phase with operations scheduled to start in October 2015.

ATCO Mexico's Gas & Pipelines Division continues to actively seek opportunities to develop additional natural gas transportation infrastructure projects for the CFE. The company is also looking for opportunities to transport natural gas to industrial clients under the "build, own, operate" model.

Natural Gas Cogeneration Power Plant - Miguel Hidalgo Refinery

Also in October 2014, ATCO and its partner Grupo Hermes, S. A. de C.V. were chosen by PEMEX subsidiary PMX Cogeneración S. A. P. I. de C. V. to begin developing the project and approval process for a natural gas electricity cogeneration plant at the Miguel Hidalgo Refinery close to Tula. The project is expected to generate 638 MW of power.

Initial estimates for the capital cost of the proposed project is USD$820 million, of which ATCO will be responsible for approximately half of the required investment.

In conjunction with designing the plant, ATCO Mexico is working with local engineering, procurement and construction firms to finalize the preliminary plans and choice of equipment that will be used to obtain the permits required.

The plant will be operated by an ATCO-Grupo Hermes partnership with an in-service date anticipated in the second half of 2018.

ATCO Mexico is part of the ATCO Group of Companies. With more than 9,000 employees and assets of approximately $18 billion, ATCO is a diversified global corporation delivering service excellence and innovative business solutions through leading companies engaged in Structures & Logistics, Utilities and Energy. More information can be found at atco.com and atcomexico.mx

Forward-Looking Information:

Certain statements contained in this news release may constitute forward-looking information. Forward-looking information is often, but not always, identified by the use of words such as "anticipate", "plan", "estimate", "expect", "may", "will", "intend", "should", and similar expressions.

Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information.

The Company's actual results could differ materially from those anticipated in this forward-looking information as a result of regulatory decisions, competitive factors in the industries in which the Company operates, prevailing economic conditions, and other factors, many of which are beyond the control of the Company.

The Company believes that the expectations reflected in the forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking information should not be unduly relied upon.

Any forward-looking information contained in this news release represents the Company's expectations as of the date hereof, and is subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by applicable securities legislation.

Contact Information

  • Media Inquiries:
    Alejandro Rios
    Manager, Marketing & Communications
    ATCO Mexico
    Tel. (55) 5249-2564