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Home > News > China EPC Signs LOI for Oil Refinery in Mexico

China EPC Signs LOI for Oil Refinery in Mexico

2019-05-07
(Hermosillo, Sonora, Mexico) Mexicana de Fusiones y Adquisiciones, S.A.P.I. de C.V. (MFA), a Mexican based energy and power generation development company, announced today that it has signed a Letter of Intent with Shangqiu Yilong Machinery Equipment Co. Ltd. of China to manufacture, construct, deliver and commission a crude oil-to-refined liquid fuels refinery in Mexico.

[We are pleased to have come to terms on a Letter of Intent with Yilong and look forward to moving firmly and quickly towards a final contract for the construction of the refinery," said Donald Walter, Chief Executive Officer of MFA. [When commissioned, the refinery, expected to be built in the Mexican State of Veracruz, will have an installed refining capacity of 15,000 Metric Tons of crude oil per day equating to 119,585 barrels. And, from this facility, we expect to produce approximately 630,000 liters each day of refined fuels including diesel and gasoline. This refinery, to be built completely with private equity, will add more than 9% to Mexico`s national nameplate capacity. It is a profound victory for the new Administration in Mexico and for all consumers of such fuels throughout the Republic," said Walter.

[Although since its founding in 1998, Yilong had been mainly focused on China`s domestic market – since 2011, we have exported products and after-sales services to customers in sixty (60) countries across the world," said Ms. Nancy Si, Master of International Trade for Yilong. [We see the market in Mexico as a natural extension of our growing reach and look forward to working with MFA on this project. And further, the refinery we intend to build for MFA in Mexico will be designed to capture all of its flue gas emissions – allowing it to operate on a zero carbon footprint basis," concluded Si.

For more information about MFA, see https://mfasapi.com/ or contact Donald Walter via email at Don.Walter@MFAsapi.com.

For more information about Shangqiu Yilong Machinery Equipment Co. Ltd. contact Ms. Si via email at Nancy_Yilong@163.com or see http://en.yilongmachinery.com/About.asp?id=1.