Mexican petrochemical plant sale revised

In a political about-face, Mexico will now seek 49% private investment in its "secondary" petrochemical plants-instead of the politically controversial outright sale of the plants to investors. At the same time, however, the plan also entails opening this sector of the petroleum industry to foreign companies to build and operate their own, 100% privately owned secondary petrochemical plants. This will mark the first time private investment has been allowed in Mexico's petroleum operations sector since March 1938. New plan Mexico is expected to create 10-15 public-private companies early in 1997 that would manage the secondary petrochemical plants, Energy Secretary Jesus Reyes H...

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