• INVESTMENT: Rail and mining giant Grupo Mexico ($GMBXF) will be formally announcing a USD 230 million investment along with Valero Energy ($VLO) to build of two fuel storage terminals in the cities of Guadalajara and Monterrey. The company confirmed terminals would start operating in 2021.
• CAPACITY: Located in two of Mexico’s largest cities, the projects would end up increasing Mexico’s total storage capacity for around 1.1 day of gasoline sales, per Grupo Mexico sources In May, a study by the PwC consulting firm stated that Mexico had 3.4 days of gasoline storage capacity.
• INFRASTRUCTURE: With 7,500 miles of track, Grupo México is the owner of the largest rail company in Mexico, Ferromex, that would be involved in transporting fuel to the storage facilities in Guadalajara (west) and Monterrey (north). Seventy private storage projects planned for Mexico.
• GOAL: Established in 2018 as a public policy goal, Mexico’s Energy Ministry official position is for the country to have a minimum storage capacity available of 5 days of fuel sales by 2020 and to increase it to a total of 11 days of fuel sales by 2025
