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Pemex in $410m order at Spanish shipyard investment

Pemex in $410m order at Spanish shipyard investment
Petroleos Mexicanos (Pemex) plans to build three tankers and a supply ship and a tuna fishing boat in 2014 at the Barreras shipyard in Vigo, a city in the northwestern Spanish region of Galicia, spending a total of EUR300m ($410m) on the vessels, having taken a stake in the yard.

Pemex and Barreras closed their investment deal on 26 November, with the Mexican oil company purchasing a 51% stake in the Spanish shipyard for EUR5.1m.

Negotiations are being held for three other large vessels and an international tender for construction of floating hotels appears set for resolution by the end of this year, Carlos Roa, a senior executive with Pemex, said.

An agreement has also been reached for the opening of a Barreras shipyard in Mexico, Roa said.

Pemex, which will have three seats on the Barreras board, has identified two possible locations in Mexico for a shipyard, with the final decision hinging on the presence of associated industries in these areas, Roa said. The technical cooperation agreement could lead to the transfer of workers from Mexico to Spain and in the other direction, the Pemex executive said.

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