Union Fenosa plans to spend 60% of its EUR4 billion capital expenditure budget over the next three years on increasing its presence in the domestic energy sector, Santos Vazquez, deputy general manager, told delegates. It has allocated 30% of the capital expenditure budget to international projects, most of which will be used to complete two combined cycle gas turbine projects in Mexico (PFR, 2/4). The Spanish company expects to complete construction of the Tuxpan III and IV power plants in 2003. The two facilities, located in the state of Vera Cruz, have a combined capacity of 938 MW.
February 24, 2002