Nichimen with IPP's in $ 300 mm power project in Mexico

Jan 25, 1997 01:00 AM

Japanese Nichimen Corp. will participate with US independent power provider (IPP) AES Corp. and Grupo Hermes of Mexico in a $ 300 mm power generating project in Mexico. The companies won the bid from the Mexican government to supply electricity to Comision Federal de Electricidad (CFE), the national electricity company, under a 25-year power purchase agreement. A joint venture, AES Yucatan, will be set up to build, own and operate a 480 MW gas-fired combined cycle power plant in the City of Merida, Yucatan. Operation is scheduled to begin in February 2000. Nichimen plans to cooperate with AES in other power plant projects in Central and South America and Southeast Asia, regions where building infrastructure is not keeping pace with rapidly expanding economies.

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