TransCanada JV wins $2.1 bln gas pipeline contract in Mexico

Mon Jun 13, 2016 2:22pm EDT
 
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June 13 (Reuters) - TransCanada Corp said on Monday that it won a contract with a joint venture partner to build and operate a $2.1 billion natural gas pipeline in Mexico.

The company's joint venture with IEnova, a unit of Sempra Energy, won the bid for the Sur de Texas-Tuxpan project, in which TransCanada will own 60 per cent, with IEnova owning the rest.

TransCanada expects to invest about $1.3 billion in the partnership to build the 800 km (497 mile) pipeline, which is expected to come into service by late 2018. (Reporting by Arathy S Nair in Bengaluru; Editing by Anil D'Silva)