Grupo Mexico sees growth in oil-by-rail, terminals: CFO

8/8/2017 Reuters

grupo mexicoMexico’s mining and infrastructure firm Grupo Mexico expects to expand its oil-by-rail business by building at least three terminals in Mexico, including one exclusively for U.S. refiner Valero Energy, its chief financial officer told Reuters on Tuesday.

Grupo Mexico has been in talks with importers of refined products into Mexico, said Xavier Garcia de Quevedo. Fuel purchases from the United States are a growing business as the Latin American country’s demand for imported products keeps increasing.

Earlier this month Valero announced that it had signed a long-term agreement with the company to transport fuels by rail from Veracruz to inland terminals in Mexico.

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