Petroleos Mexicanos Receives Five Bids for $504 Million Expansion of Cangrejera Petrochemical Complex

BANGALORE, INDIA--May 19, 2009--Researched by Industrial Info Resources (Sugar Land, Texas)--Petroleos Mexicanos (Pemex) (Mexico City), a state-owned petroleum firm, has received bids from five consortia comprising 13 companies interested in being part of the capacity expansion of Pemex's Cangrejera petrochemical complex in Mexico. Pemex plans to invest $504 million over the next three years, of which $63 million will be made in 2009, in order to set up three new plants and double the paraxylene production capacity of the complex to 488,000 tons per year. The firm is expected to announce the name of the winning bidder on May 25.

Companies featured: Empresas ICA SA (NYSE:ICA), Fluor Corporation (NYSE:FLR), SNC-Lavalin Group Incorporated (TSX:SNC), Carso Infraestructura y Construccion SAB de CV (MXK:CICSAB), Actividades de Construccion y Servicios SA (MCE:ACS), Obrascon Huarte Lain SA (MCE:OHL), Maire Tecnimont Spa (BIT:MT)